Moody's: Mueller Water positive

Moody's Investors Service said it revised the outlook for Mueller Water Products, Inc. to positive from stable and affirmed its existing ratings, including its B3 corporate family and probability of default ratings, B2 senior unsecured debt rating, Caa2 senior subordinated debt rating and SGL-2 speculative grade liquidity rating.

Moody's said the change in outlook reflects its expectation that the company will continue to improve its operating margins, in large part because of the disposition of United States Pipe and Foundry Co. LLC, which was a drag on earnings and credit metrics.

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