Moody's changes Albemarle view to positive

Moody's Investors Service said it changed the outlook on all ratings of Albemarle Corp. to positive from stable.

At the same time, Moody's affirmed Albemarle's Baa3 senior unsecured ratings, its Prime-3 commercial paper rating as well as the Baa3 backed senior unsecured ratings of Albemarle New Holding GmbH and Albemarle Wodgina Pty Ltd.

“The change in the outlook to positive reflects a material improvement in global lithium demand and the strengthening of Albemarle's credit profile driven by high prices for spodumene and lithium chemicals as well as the significant growth in its mining, brine and lithium conversion capacity,” said Botir Sharipov, Moody’s senior credit officer and lead analyst for Albemarle, in a news release.

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