S&P: Century Aluminum stable

Standard & Poor's said it revised its outlook on Century Aluminum Co. to stable from negative and affirmed its BB- corporate credit, senior secured bank loan and senior secured notes ratings.

According to S&P, the outlook revision reflects an expected improvement in Century's financial performance as a result of higher aluminum prices and better industry fundamentals.

S&P said the ratings on Century Aluminum reflect its exposure to the cyclical aluminum industry, its high cost position as a primary aluminum producer, limited product diversity, and its somewhat aggressive financial profile. These factors offset currently favorable conditions in the aluminum industry, a relatively low free cash flow break-even aluminum price and its fair liquidity position.

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