The price that Alcoa received for aluminum fell 2 percent from a year ago but rose nearly 5 percent from the third quarter. Shipments were flat from a year ago.The low prices were a factor in the announcement last month by Moody's Investor Service that it could downgrade Alcoa's credit rating to junk status. Alcoa has been trying to reduce debt to keep its investment-grade rating. In the fourth quarter, it cut spending by 12 percent to $6.23 billion.
Alcoa Earnings As Expected, Revenue Tops Forecasts
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