New York, March 27, 2015 -- Moody's Investors Service said that Allegheny Technologies Incorporated's (ATI) collateralization of its revolving credit facility, as required by the springing lien trigger event, does not impact the company's Ba1 senior unsecured note ratings under Moody's loss given default methodology. This is due to the fact that unsecured debt comprises the majority of the debt obligations in the capital structure. The eighth Amendment dated October 15, 2014 requires collateral (receivables, inventory and proceeds thereof) to be provided should ratings be below investment grade at both Moody's and Standard & Poor's.

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