Fitch raises Masco, view to stable

Fitch Ratings said it upgraded Masco Corp.’s ratings, including the company’s long-term issuer default rating to BBB from BBB-. The agency revised the outlook to stable from positive.

“The upgrade to BBB and stable outlook reflect Fitch’s expectation that the company’s total debt-to-operating EBITDA (after dividends to associates and minorities) will remain consistently below Fitch’s BBB- positive rating sensitivity of 2.5x during the rating horizon,” the agency said in a press release.

Fitch noted Masco’s divestitures of its cabinets and windows businesses lowered its end markets’ cyclicality and improved EBITDA margins, strengthening the credit profile.

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