NEW YORK (Standard&Poor's) March 12, 2009--Standard&Poor's Ratings Service revised its outlook on GrafTech International to stable from positive. At the same time, Standard&Poor's affirmed all other ratings, including its 'BB-' corporate credit rating. "The outlook revision reflects our assessment that a higher rating is not likely to occur within our outlook time horizon, even though we expect the company's financial profile to remain at a level we consider good for the current rating--with debt to EBITDA of less than 3x," said Standard&Poor's credit analyst Sherwin Brandford. Previously, a higher rating was primarily predicated on leverage being maintained at less than 1.5x and operating margins be maintained at more than 20%. However, in
