Moody’s ups Owens Corning debt

Moody’s Investors Service said it upgraded Owens Corning's senior unsecured rating to Baa3 from Ba1.

The outlook is stable.

The agency said the upgrade reflects an expectation that the company will continue to follow conservative financial policies, benefit from sound fundamentals in key end markets and maintain a strong liquidity profile.

Moreover, Moody's said it believes the company will be able to sustain its investment grade rating in an eventual economic downturn, since its business operations have significantly improved over the years.

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