Moody's downgrades ATI's ratings (CFR to B2); outlook is stable
Rating Action: Moody's downgrades ATI's ratings; outlook is stable. Global Credit Research- 20 Aug 2020. NOTE: On August 27, 2020, the press release was corrected as follows: The first sentence of the FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS section was changed to: Though a rating upgrade is unlikely in the near term, ATI's rating could be upgraded if the company demonstrates the ability to sustain EBIT/interest above 2 x, debt/EBITDA below 5 x and an adjusted...Allegheny Technologies is a manufacturer of specialty materials and components. The company operates in two business segments: High Performance Materials and Components, which produces a range of specialty materials, parts and components for several main end markets, including aerospace and defense, medical, and energy; and Flat Rolled Products, which produces nickel-based alloys, specialty alloys, titanium and titanium-based alloys, and stainless steel in a variety of forms including plate, sheet, engineered strip, and Precision Rolled Strip? products.
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