Moody’s rates H.B. Fuller Baa3

Moody's Investors Service said it assigned a Baa3 issuer rating to H.B. Fuller Co.

The outlook is stable.

The Baa3 rating is supported by diverse global operations and revenues, leading positions in certain sub-segments of the global adhesives markets, established customer relationships and barriers to entry based on formulation and application expertise, the agency said.

The Baa3 rating also reflects conservative financial policies aimed at maintaining the investment-grade ratings, as well as robust retained and free cash flow, which Moody's expects will be adequate to support the company's acquisition targets as part of its 2020 strategic plan.

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