Fitch upgrades Masco

Fitch Ratings said it upgraded Masco Corp.’s issuer default rating to BB+ from BB, senior unsecured debt to BB+ with recovery rating of RR4 from BB and unsecured revolving credit facility to BB+ with recovery rating of RR4 from BB.

The outlook is stable.

The ratings reflect the company’s leading market position with strong brand recognition in its various business segments, breadth of its product offerings and solid liquidity position, Fitch said.

Risk factors include its sensitivity to general economic trends, the agency said, as well as the cyclicality of the residential construction market.

The upgrade reflects Masco’s improving financial and credit metrics and an expectation of further improvement in financial results during the next 12 to 18 months, Fitch added.

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