Moody’s revises Boral outlook to stable

Moody’s Investors Service said it revised the outlook to stable from negative and affirmed Boral Ltd.’s Baa2 issuer rating and the Baa2 backed senior unsecured ratings on Boral Finance Pty Ltd. and Boral Industries Inc.

“The change in Boral’s outlook to stable reflects Moody’s expectation the company’s credit metrics will recover to within rating tolerance thresholds over the next 12-18 months,” said Saranga Ranasinghe, a Moody’s vice president and senior analyst, in a press release.

“The company’s updated financial framework will allow Boral to build rating headroom and better weather the inherent cyclicality in the building and construction materials sector,” added Ranasinghe.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.