NEW YORK (Standard&Poor's) June 25, 2008--Standard&Poor's Ratings Services revised its outlook on GrafTech International Ltd. to positive from stable. At the same time, we raised the rating on the company's senior unsecured notes to 'BB' from 'BB-' (one notch above the 'BB-' corporate credit rating). In we revised the recovery rating to '2' from '4'. The new ratings indicate the expectation of substantial (70% to 90%) recovery in the event of a payment default. (For the complete recovery analyses, see "Recovery Report: GrafTech International Ltd.'s Recovery Rating Profile," to be published immediately preceding this article on RatingsDirect.) All other ratings, including the company's 'BB-' corporate credit rating, were affirmed. The outlook revision reflects the company's strengthened
