Moody’s upgrades Albemarle

Moody's Investors Service said it upgraded Albemarle Corp.’s senior notes and Eurobonds to Baa2 from Baa3 and the commercial paper rating to Prime 2 from Prime-3.

The outlook is stable.

Moody’s said the upgrades reflect the company's strong profit and margin performance and outlook in its remaining core businesses, lower financial leverage with clear balance sheet objectives, and the favorable outlook for lithium-based battery storage products where projected penetration rates into the electric vehicle (EV) market continue to improve.

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