Late last week, Moody's downgraded the corporate debt of Alcoa (NYSE:AA) from Baa3 to Ba1, citing weakness in the industry and commenting that it is unlikely that the company will return to investment grade status in the near term. While the Aluminum Corporation of China (NYSE:ACH) and BHP Billiton (NYSE:BHP) face similar pressures, both seem to be in better shape. Ultimately, if the bellwether is relegated to junk status, its future as a solid investment looks uncertain.

In the video below, contributor Doug Ehrman discusses some of the developments leading to the move by the rating agency and asks how you may wish to think about Alcoa.

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