Moody's says Albemarle's stock issuance is positive to credit profile, reduces debt and bolsters liquidity in the short term
Announcement: Moody's says Albemarle's stock issuance is positive to credit profile, reduces debt and bolsters liquidity in the short term. Global Credit Research- 03 Feb 2021. New York, February 03, 2021-- Moody's Investors Service stated that Albemarle Corporation's announcement that it intends to issue $1.3 billion in new equity and to use the proceeds to fund growth capital expenditures in the short term and to reduce debt is a credit positive but does not impact the...Albemarle is a global developer, manufacturer and marketer of chemicals across a range of end markets including energy storage, petroleum refining, consumer electronics, construction, automotive, lubricants, pharmaceuticals, crop protection and custom chemistry services. The company's segments include: Lithium, which develops and manufactures a range of basic lithium compounds and lithium specialties and reagents; Bromine Specialties, which includes products used in fire safety solutions and other chemicals applications; and Catalysts, which includes Clean Fuels Technologies, fluidized catalytic cracking catalysts and additives, and performance catalyst solutions.
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