Moody’s Investors Service (Moody’s) assigned a B3 rating to Installed Building Products Inc.’s (IBP) proposed $300 million senior unsecured notes due 2028. In related rating actions, Moody’s upgraded the ratings on IBP’s senior secured term loan maturing 2025 to Ba3 from B1, upgraded IBP’s Speculative Grade Liquidity Rating to SGL-1 from SGL-2, affirmed the company’s B1 Corporate Family Rating and its B1-PD Probability of Default Rating, and changed the outlook to positive from stable.
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