Moody's upgrades Beacon Roofing Supply's CFR to B1, secured debt to Ba3, unsecured notes to B3; upgrades liquidity rating to SGL-1; outlook positive
Rating Action: Moody's upgrades Beacon Roofing Supply's CFR to B1, secured debt to Ba3, unsecured notes to B3; upgrades liquidity rating to SGL-1; outlook positive. Global Credit Research- 09 Apr 2021. New York, April 09, 2021-- Moody's Investors Service upgraded Beacon Roofing Supply's Corporate Family Rating to B1 from B2 and Probability of Default Rating to B1-PD from B2-PD.Beacon Roofing Supply is a distributor of roofing materials and complementary building products in the United States and Canada. The complementary building products the company distributes include siding, windows, insulation, waterproofing systems, wallboard, acoustical ceilings, and other exterior and interior building products. The company purchases products from manufacturers and then distributes these goods to a customer base consisting of contractors, and to a lesser extent, home builders, retailers, and other building materials suppliers. The company supports its customers with services such as advice and assistance on product identification, specification and technical support, and training services.
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