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Bulletin: Aleris International Inc. Ratings Are Not Affected By IPO Announcement
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) April 28, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on Aleris International Inc. (B+/Stable/--) are not immediately affected by the company's announcement that it filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission in connection with a proposed initial public offering (IPO) of its common stock. Details of the proposed transaction have yet to be finalized. The Beechwood, Ohio-based company plans to use the net proceeds it receives from the offering for the construction of an aluminum rolling mill in China as well as general corporate purposes, including working capital, capital expenditures, and acquisition opportunities that may become available. Standard & Poor's stable ratings outlook...
Companies mentioned in this report are: Aleris International Inc.
Action: Bulletin
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