NEW YORK (Standard&Poor's CreditWire) April 13, 2001--Standard&Poor's today placed its ratings on UCAR International Inc. and its subsidiary, UCAR Global Enterprises Inc., on CreditWatch with negative implications (see list below). The CreditWatch placements reflect the difficult operating conditions the company is experiencing, concerns over possible covenant violation under the company's bank facilities, and uncertainty regarding the outcome of the ongoing investigation by European antitrust authorities. As a producer of graphite electrodes, which are consumed by steel minimills in their electric arc furnaces, the company has significant exposure to the difficult conditions the steel industry is experiencing. Weak demand and low prices have forced steel producers to reduce capacity utilization rates to approximately 70%, which affects pricing
