Moody’s upgrades GrafTech

Moody's Investors Service said it upgraded GrafTech International Ltd.’s corporate family rating to B2 from Caa1, probability of default rating to B2-PD from Caa1-PD, senior unsecured bonds to B3 from Caa2 and senior secured credit facility to Ba2 from B2, to conclude the review initiated on Oct. 19.

The agency also upgraded the speculative grade liquidity rating to SGL-2 from SGL-3.

The outlook is positive.

"GrafTech's financial performance and credit metrics will strengthen considerably on significantly higher averaged realized prices for graphite electrodes 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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