Monthly Archives: May 2013
Alcoa Inc. (NYSE: AA) has just lost its investment grade corporate credit rating after a downgrade from Moody’s. The aluminum giant and DJIA component is now a junk bond rating as its unsecured credit rating was cut from the lowest investment grade rating of Baa3 down to Ba1. The outlook is now Stable, implying that the downgrade is now finished.
What is interesting about the downgrade is that the company wants to mention that this is based upon macroeconomic conditions. Moody’s expects that the debt/EBITDA ratio will remain elevated in both 2013 and in 2014. The ratings agency expects relatively weak aluminum prices for the next 12 to 18 months.
Moody’s first started this review back in December of 2013. The firm confirmed Alcoa’s Ba2 preferred stock rating, but Moody’s withdrew the company’s Prime-3 commercial paper rating and assigned a Speculative Grade Liquidity Rating of SGL-1.
Alcoa responded, “While we are…
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The photo wars aren’t over, but a shift is about to take place in terms of the content we upload and share to the internet, according to Kleiner Perkins’ Mary Meeker and her trademark Powerpoint slides at D11. After years of uploading each and every photo to the web, we’re about to start uploading personal data and sound files to the web in greater and greater numbers as wearable computing develops.
Meeker’s annual attempt to present more than 100 slides in 10 minutes is a little tough on the eyes, but a few key trends emerged Wednesday at D11 (the full deck is embedded below):
- 500 million photos are being uploaded and shared each day, doubling year over year as Snapchat turns into a real phenomenon. But photo-sharing is relatively mature compared to…
- Video, which as Janko noted earlier today is on a tear. At the moment, video growth is…
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