New York, November 22, 2016 -- Moody's Investors Service upgraded USG Corporation's Corporate Family Rating to Ba2 from Ba3 and its Probability of Default Rating to Ba2-PD from Ba3-PD, since Moody's projects key debt credit over the next 12 to 18 months supportive of higher ratings. In related rating actions, Moody's upgraded USG's guaranteed senior unsecured notes to Ba2 from Ba3, and its non-guaranteed senior unsecured notes and industrial revenue bonds to Ba3 from B2. Moody's will withdraw the ratings assigned to the Guaranteed Notes due 2020 and Guaranteed Notes due 2021 when each is fully redeemed on December 2. The rating outlook is positive. This completes the review initiated on August 30, 2016.

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