Moody's cuts Masco notes to Ba3

Moody's Investors Service said it downgraded Masco Corp.'s corporate family and probability of default ratings to Ba3 from Ba2.

Moody's also downgraded Masco's senior unsecured notes ratings to Ba3 (LGD4-52%) from Ba2 (LGD4-52%)

The speculative grade liquidity rating remains SGL-1 and the outlook was changed to stable from negative.

Moody's said the downgrade results from its view that Masco will have difficulty generating the levels of earnings necessary to significantly improve key debt leverage credit metrics, which will remain weak for the foreseeable future.

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