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Moody's upgrades Koppers Holdings rating

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By AP
09 May 2008 @ 03:37 pm EST

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NEW YORK - Moody's Investors Service upgraded the corporate rating of Koppers Holdings Inc. on Friday, citing the company's improving financial stability since its public offering two years ago.

Quotes

KOP

20.04

-0.45

The credit rating agency lifted its rating to "Ba3" from "B1."

Moody's offered a "Stable" outlook, noting the company's consistent earnings performance and its expectation that its financial strength will continue through next year.

Pittsburgh-based Koppers makes carbon compounds and treated wood products used in the aluminum, chemical, railroad, and steel industries.

Shares fell 39 cents to $48.47 in afternoon trading.

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