Moody's affirms RPM

Moody's Investors Service said it affirmed the ratings for RPM International, Inc. (senior unsecured at Baa3). The outlook is negative.

Affirmed were RPM's Baa3 senior unsecured notes and senior unsecured convertible notes, prospective Baa3 senior unsecured shelf and prospective Ba1 subordinate shelf.

Moody's said the affirmation follows an assessment of the recent and prospective changes in RPM's asbestos reserves as well as a review of the possible cash flow impact of the asbestos liability going forward.

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