...- The suspension notice at Graftech's manufacturing facility in Mexico has been lifted, alleviating initial concerns about the impact to profits and cashflows. - While we anticipate softer market conditions and lower average sales prices will result in higher leverage in 2023 and 2024, the company has a cushion in its credit metrics. - As a result, we removed the ratings from CreditWatch, where we placed them with negative implications on Sept. 22, 2022. - At the same time, we affirmed our '##-' issuer credit rating and our '##' rating on GrafTech's senior secured debt. The '2' recovery rating on the term loan is unchanged. - The stable outlook reflects our expectation that GrafTech will maintain debt to EBITDA between 2x to 3x over the next 12 months, as steel markets experience a slow down which we expect could translate into weaker graphite electrode demand and prices....
