Moody's upgrades Interface

Moody's Investors Service said it upgraded the corporate family and probability of default ratings of Interface, Inc. to Ba3 from B1.

Concurrently, Moody's raised the rating on the $275 million senior unsecured notes due 2018 to B1 from B2 and assigned an SGL-2 speculative grade liquidity rating.

The outlook is stable.

Moody's said the upgrade of Interface's corporate family rating reflects its improved earnings, relatively stable margins and good liquidity profile. Interface has benefited from its exposure to emerging markets as well as its focus on the modular carpet segment in the U.S., which Moody's said it believes will continue to perform well over the near term.

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