NEW YORK (Standard&Poor's) May 15, 2008--Standard&Poor's Ratings Services said today that it raised its ratings on Parma, Ohio-based GrafTech International Ltd. The corporate credit rating was raised to 'BB-' from 'B+'. The outlook is stable "The upgrade reflects GrafTech's strengthening financial profile following significant debt reduction, good operational performance, and enhanced cash flow generation supported by currently favorable market conditions," said Standard&Poor's credit analyst Anna Alemani. "These improvements, combined with management's commitment to preserve a conservative balance sheet and adequate liquidity, should enable GrafTech to maintain a financial profile commensurate with the higher rating if market conditions were to weaken." GrafTech manufactures carbon-based materials for use in various applications. Its primary product, graphite electrodes,
