Moody’s revises Masco view to positive

Moody's Investors Service said it changed Masco Corp.'s rating outlook to positive from stable based on the expectation for continued operating improvement resulting in credit metrics that may become supportive of higher ratings.

In a related action, the agency affirmed the company's Ba3 corporate family rating and Ba3-PD probability of default rating.

Moody’s said the outlook change reflects its expectations that Masco's operating profits and cash flow generation will continue to grow, resulting in debt credit metrics potentially supportive of higher ratings. Most of the company's businesses are benefiting from higher volumes due to sustained strength in repair and remodeling and new housing construction, both main drivers of Masco's revenues. Better pricing and past restructuring activities are also contributing to stronger margins.

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