Wise Metals Group LLC -- Moody's rates Wise Metals (B3 CFR); outlook stable

New York, November 22, 2013 -- Moody's Investors Service assigned a B3 Corporate Family Rating and a B3-PD Probability of Default Rating to Wise Metals Group LLC (Wise). At the same time, Moody's assigned a Caa1 rating to the proposed senior secured notes due in 2018 to be issued by Wise Metals Group LLC and Wise Alloys Finance Corporation as co-issuers. Wise Metals Group LLC and Wise Alloys Finance Corporation will be jointly and severally liable for the notes. The notes will be guaranteed by certain subsidiaries, excluding Wise Recycling LLC and its subsidiaries. Proceeds will be used to repay existing debt and redeem approximately $158 million in preferred, non-convertible membership interests. The rating outlook is stable.

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