Moody's Ratings changes Carpenter Technology's outlook to positive; affirms all ratings
Moody's Ratings (Moody's) changed Carpenter Technology Corporation's ("Carpenter") outlook to positive from stable. At the same time, we affirmed Carpenter's Ba3 Corporate Family Rating ("CFR"), Ba3-PD Probability of Default Rating ("PDR") and the B1 rating on its senior unsecured notes. Carpenter's...Carpenter Technology is a producer and distributor of alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels as well as drilling tools. The company's alloy-based materials and process solutions are used for applications in the aerospace, defense, transportation, energy, medical, industrial and consumer markets as well as additive manufacturing processes and soft magnetics applications. The company also produces metal powders and parts. The company has two business segments: Specialty Alloys Operations, which consists of the company's alloy and stainless steel manufacturing operations; and Performance Engineered Products, which consists of the company's differentiated operations.
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