S&P lifts USG

Standard & Poor's said it raised its corporate credit rating on USG Corp. to BB+ from D, following the building products company's emergence from bankruptcy on June 20.

The outlook is stable.

S&P said that the BB+ senior unsecured bank loan rating on USG's proposed $2.8 billion senior unsecured bank facility is affirmed.

The ratings on USG reflect the company's leading position in the U.S. gypsum wallboard and ceiling system markets, competitive cost position, flexible capital spending needs and moderate financial policies, S&P noted, adding that the ratings also reflect cyclical demand for the company's products.

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