Moody’s upgrades USG, notes

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

The agency also upgraded USG's senior unsecured notes to Ba1 from Ba2 and industrial revenue bonds to Ba2 from B1.

The speculative grade liquidity rating of SGL-1 was affirmed.

The outlook was changed to stable from positive.

Moody’s said the upgrade is based on expectations that USG's operating performance will result in key debt credit over the next 12 to 18 months supportive of higher ratings while maintaining very good liquidity.

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