SGL Carbon Outlook Revised To Stable On Higher Demand Offset By Rising Capex And Negative Cash Flows; Affirmed At 'B-' - ADEM ÇETİNKAYA INVESTMENT INC. | AC ADV INC.
credit metrics to levels commensurate with a higher rating.
positive and affirming our 'B-' long-term rating.
into higher profitability in the coming 12 months.
automotive, will translate into high profitability in the coming 12 months.
will focus on expanding its automotive, LED, and semiconductor businesses.
rule them out as the company progresses with the current project pipeline.
EBIDTA of less than 2.5x and gearing below 0.5x in normal industry conditions.
demand in the medium and long term.
demand, notably in batteries and automotive.
2018-2019, which is commensurate with the 4x-5x range for the current rating.
industry conditions) and adequate liquidity.
negative FOCF and leverage ratios well above 5x.