Moody’s upgrades Masco, notes to Ba1

Moody's Investors Service said it upgraded Masco Corp.’s corporate family rating to Ba1 from Ba2 and probability of default rating to Ba1-PD from Ba2-PD.

In related actions, the agency upgraded Masco's senior unsecured notes to Ba1 from Ba2. The speculative grade liquidity rating of SGL-1 was affirmed.

The outlook was changed to stable from positive.

Moody’s said the action is based on expectations that Masco's operating performance will continue to get better, yielding key debt credit metrics potentially supportive of an investment-grade rating while maintaining its robust liquidity profile.

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