Moody’s revises Forterra view to stable

Moody's Investors Service said it affirmed all ratings of Forterra Finance, LLC, including the B3 corporate family rating.

The outlook was revised to stable from negative.

The agency said the change in outlook reflects an expectation that Forterra's operating performance will continue to improve, resulting from higher average sales prices and cost cutting measures that should reduce leverage to below 8x.

In addition, the stable outlook considers the resolution of previously identified material weaknesses in internal controls by year-end 2018, Moody’s added.

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