Moody’s upgrades USG, notes

Moody's Investors Service said it upgraded USG Corp.'s corporate family rating to Ba3 from B1 and probability of default rating to Ba3-PD from B1-PD based on expectations on improving operating performance in the company's gypsum business and the balance of the Notes due 2016 redeemed with cash on hand, yielding debt credit metrics more supportive of the higher rating.

In related rating actions, the agency upgraded USG's guaranteed senior unsecured notes to Ba3 from B1 and its non-guaranteed notes to B2 from B3.

The speculative grade liquidity rating of SGL-2 is affirmed.

The outlook remains positive.

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