Alcoa's purchase of Firth Rixson will bolster the company's aerospace business in the jet engine component segment. On a pro forma basis, the acquisition will increase Alcoa's annual aerospace segment revenues to approximately
The acquisition is subject to regulatory approvals and conditions and is expected to close by the end of 2014. Consideration for the acquisition is
Fitch currently rates Alcoa as follows:
--Issuer Default Rating (IDR) 'BB+';
--Senior unsecured debt 'BB+';
--Preferred stock 'BB-'.
--Short-term IDR 'B';
--Commercial paper 'B'.
The Rating Outlook is Stable.
Additional information is available at 'www.fitchratings.com'.
Source: Fitch Ratings
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