S&P Rates Alcoa (AA) at 'BB-' Amid Upstream, Downstream Separation
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Alcoa (AA) Unit Plans Notes Offering
September 20, 2016 7:39 AM EDTAlcoa Inc. (NYSE: AA) announced a proposed offering of senior notes (the Notes) by Alcoa Nederland Holding B.V. (the Issuer), a wholly owned subsidiary of Alcoa Upstream Corporation (Alcoa Corporation), which is currently a wholly owned subsidiary of Alcoa.
The timing of pricing and terms of the Notes are subject to market conditions and other factors. The Issuer intends to use the proceeds from the proposed offering to make a payment to Alcoa to fund the transfer of certain assets... More
United Tech's Pratt issues will drag on cash flow: CEO
September 16, 2016 3:55 PM EDTBy Alwyn Scott
NEW YORK (Reuters) - United Technologies Corp's (NYSE: UTX) chief executive officer said on Friday the company would deliver 150 Pratt & Whitney engines this year, missing its target of 200 and putting "pressure on cash flow."
United Technologies shares fell about 1.8 percent after CEO Greg Hayes spoke about the issue at an investor conference hosted by Morgan Stanley. They were down 2.3 percent at $100.33 in afternoon trading, the biggest decliner in the Dow Jones Industrial Average.
Hayes said front fan blades are among about five engine parts "that are causing... More
