S&P may lower GrafTech

Standard & Poor's said it placed its ratings on GrafTech International Ltd., including its B+ corporate credit and B senior unsecured debt ratings, on CreditWatch with negative implications after the company revised its third-quarter and full-year earnings estimates.

GrafTech cited higher operating expenses due to infrastructure growth, global work processes, and information systems for its latest earnings guidance. GrafTech also noted the closing of needle coke capacity, a critical raw material in the manufacturing of graphite electrodes.

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