12.08.2015 22:34:00
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Legacy Vulcan Corp. -- Moody's upgrades Vulcan Material's CFR to Ba2; outlook is positive
New York, August 12, 2015 -- Moody's Investors Service upgraded the Corporate Family Rating ("CFR") of Vulcan Materials Company ("Vulcan") to Ba2 from Ba3, the Probability of Default Rating to Ba2-PD from Ba3-PD and senior unsecured notes to Ba2 from Ba3. At the same time, Moody's assigned a Ba2 rating to the company's new $750 million unsecured revolving credit facility due 2020. These rating actions conclude the review for upgrade initiated on June 16, 2015. The rating outlook is positive.