Alcoa Issues Statement on Moody’s Ratings Change

Alcoa Press Release:

May 29, 2013
Alcoa Issues Statement on Moody’s Ratings Change
NEW YORK--(BUSINESS WIRE)--While we are disappointed by Moody’s decision today, we remain committed to maintaining our investment grade rating and will continue to execute on our strategy and our 2013 goal of generating positive free cash flow.

We believe Moody’s decision is a greater reflection of macroeconomic conditions and the volatility of metal prices than a true statement of the financial and operating strength of Alcoa.

We have a strong balance sheet and liquidity position with limited near-term bond maturities.

About Alcoa

Alcoa (NYSE:AA) is the world’s leading producer of primary and fabricated aluminum, as well as the world’s largest miner of bauxite and refiner of alumina. In addition to inventing the modern-day aluminum industry, Alcoa innovation has been behind major milestones in the aerospace, automotive, packaging, building and construction, commercial transportation, consumer electronics and industrial markets over the past 125 years. Among the solutions Alcoa markets are flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa® wheels, fastening systems, precision and investment castings, and building systems in addition to its expertise in other light metals such as titanium and nickel-based super alloys. Sustainability is an integral part of Alcoa’s operating practices and the product design and engineering it provides to customers. Alcoa has been a member of the Dow Jones Sustainability Index for 11 consecutive years and approximately 75 percent of all of the aluminum ever produced since 1888 is still in active use today. Alcoa employs approximately 61,000 people in 30 countries across the world. For more information, visitwww.alcoa.com and follow @Alcoa on Twitter at twitter.com/Alcoa and follow Alcoa on Facebook at www.facebook.com/Alcoa.