Moody’s gives James Hardie notes Ba2

Moody's Investors Service said it assigned a Ba2 corporate family rating and a Ba2-PD probability of default rating to James Hardie International Finance Ltd.

Concurrently, the agency assigned a Ba2 rating to the proposed $325 million senior unsecured notes due 2023 and a speculative-grade liquidity rating of SGL-2.

The outlook is stable.

Proceeds are anticipated to go toward repaying outstanding borrowings under the company's $590 million bilateral credit facilities with current outstanding of about $380 million.

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