Moody’s might raise GrafTech

Moody's Investors Service said it placed all long-term ratings for GrafTech International Ltd., including the Caa1 corporate family rating and Caa2 rating on its $300 million 6 3/8% senior notes due 2020, under review for upgrade.

The agency also upgraded the speculative grade liquidity rating to SGL-3 from SGL-4 due to the substantial increase in spot prices for graphite electrodes and expectation that GrafTech will generate stronger cash flows in the near-term.

"GrafTech's credit profile should improve significantly over the next few quarters with averaged realized prices expected to move up meaningfully in 2018," Ben Nelson, Moody's vice president, senior credit officer and lead analyst for GrafTech, said in a news release.

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