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Bulletin: Aleris International Inc. Ratings And Outlook Unchanged On Dividend Announcement By Board Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 17, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on Beechwood, Ohio-based Aleris International Inc. (B+/Stable/--) are unchanged by the company's announcement that its board of directors has approved a $100 million dividend to owners. Given that the company expects to use balance sheet cash to fund the planned dividend, we consider the action to be within our expectations for the 'B+' rating that incorporates the concern regarding the potential for ongoing sponsor dividends. We anticipate that operating performance will exceed our previous expectations due primarily to the strength of the company's European business driven by increased volumes from the aerospace business as destocking at the end of 2010 has...
Companies mentioned in this report are: Aleris International Inc.
Action: Bulletin
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.
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