New York, December 16, 2015 -- Moody's Investors Service downgraded Allegheny Technologies Incorporated's (ATI) Corporate Family Rating (CFR) and Probability of Default rating to B2 and B2-PD from Ba3 and Ba3-PD respectively. The senior unsecured note ratings of ATI and Allegheny Ludlum Corporation (guaranteed by ATI) were downgraded to B3 from B1. The speculative grade liquidity rating remains unchanged at SGL-3. The outlook is negative. This concludes the review for downgrade initiated on November 6, 2015.
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