Moody's upgrades Eagle Materials to Investment Grade; Senior Unsecured Rating at Baa3
Rating Action: Moody's upgrades Eagle Materials to Investment Grade; Senior Unsecured Rating at Baa3. Global Credit Research- 27 Jun 2017. New York, June 27, 2017-- Moody's Investors Service upgraded the senior unsecured debt ratings of Eagle Materials Inc. to Baa3 from Ba1.Eagle Materials, through its subsidiaries, is a supplier of heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the U.S. The company's products are commodities that are used in commercial and residential construction; public construction projects; projects to build, expand, and repair roads and highways; and in oil and natural gas extraction. The company's business is organized into three sectors: Heavy Materials, which includes the cement and concrete and aggregates segments; Light Materials, which includes the Gypsum wallboard and recycled paperboard segments; and Oil and Gas Proppants, which are used in oil and gas extraction.
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