Moody's: GrafTech view positive

Moody's Investors Service said it changed the outlook for GrafTech International Ltd. and GrafTech Finance, Inc. to positive from negative as a result of improved cash flow generation and anticipated strong business outlook for the remainder of 2007 and 2008.

The speculative grade liquidity rating was upgraded to SGL-1 from SGL-2.

Moody's affirmed for GrafTech International's corporate family and probability-of-default ratings at B1 and $225 million 1.625% guaranteed senior unsecured convertible debentures due 2024 at B2 (LGD4, 66%).

Moody's affirmed GrafTech Finance, Inc.'s $215 million guaranteed senior secured revolving credit facility due 2010 at Ba1 (LGD2, 11%) and $250 million 10¼% guaranteed senior unsecured global notes due 2012 at B2 (LGD4, 66%).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.