Moody's rates GrafTech notes Ba2

Moody's Investors Service said it assigned a Ba2 rating to GrafTech International Ltd.'s proposed $300 million senior unsecured notes.

All other ratings, including the Ba1 corporate family rating and SGL-2 short-term liquidity rating, were affirmed.

The outlook is stable.

"The notes issuance will improve GrafTech's liquidity position by creating additional revolving credit capacity to make investments, cover any operating shortfalls related to softening business conditions in key steel end markets, and handle upcoming debt maturities in 2015," Moody's analyst Ben Nelson said in a news release.

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