Moody's lifts GYP Holdings III, GMS loan

Moody's Investors Service said it upgraded the corporate family rating of GYP Holdings III Corp., subsidiary of GMS Inc., to B1 from B2 and its probability of default rating to B1-PD from B2-PD, since Moody's projects key credit metrics will continue to improve over the next 12 to 18 months.

In related rating actions, Moody's said it affirmed GMS' liquidity rating of SGL-2 and upgraded its senior secured term loan to B2 from B3. The outlook is changed to stable from positive.

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