Fitch Upgrades Owens Corning's IDR to 'BBB+'; Outlook Stable

2 days ago · Fitch Ratings - Chicago - 05 Feb 2025: Fitch Ratings has upgraded the ratings of Owens Corning, including the company's Long-Term Issuer Default Rating (IDR), and senior …

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Fitch Upgrades Owens Corning's IDR To 'BBB+'; Outlook Stable

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1 day ago · The upgrade reflects Owens Corning's improved business profile and deleveraging following the $3.9 billion acquisition of Masonite International Corporation in May 2024. Owens …

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Owens Corning Ratings Upgraded To 'BBB+' By Fitch On Improved …

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This upgrade is a reflection of the improved business profile and deleveraging of Owens Corning, following its $3.9 billion acquisition of Masonite International (NYSE:DOOR) Corporation in …

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Owens Corning EVP Sells Shares Worth $101,855 - MSN

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Fitch Ratings upgraded the company's ratings to 'BBB+' from 'BBB', highlighting the firm's improved business profile and strong financial performance. ... In addition to the upgrade, …

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Owens Corning EVP Sells Shares Worth $101,855 - Investing.com UK

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3 days ago · Fitch Ratings upgraded the company's ratings to 'BBB+' from 'BBB', highlighting the firm's improved business profile and strong financial performance. This upgrade is largely due …

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FAQs about Fitch Upgrades Owens Corning's IDR to 'BBB+'; Outlook Stable Coupon?

Is Owens Corning a good stock to buy?

Investing.com -- Fitch Ratings has upgraded the ratings of Owens Corning (NYSE: OC), a leading player in the building and construction materials industry. The company's Long-Term Issuer Default Rating (IDR), senior unsecured notes, and revolving credit facility ratings have been raised to 'BBB+' from 'BBB', indicating a stable outlook. ...

What is Owens Corning's EBITDA and FCF margin?

See disclosure here or remove ads. Owens Corning's EBITDA and FCF margins are strong compared to its investment-grade building products peers. The company's EBITDA margin is expected to be around 23.5%-24.5% in 2024, and 21.5%-22.5% in 2025 and 2026, which is above the high-teen EBITDA margin percentages reported between 2017 and 2020. ...

How much cash does Owens Corning have in 2024?

As of Sept. 30, 2024, Owens Corning had robust liquidity, with $499 million of cash and $996 million of borrowing availability under its $1 billion revolving credit facility that matures in March 2029. ...

What are Owens Corning's risk factors?

Owens Corning’s ratings reflect the company’s leading market positions in all of its major businesses, strong brand recognition, and product, end-market and geographic diversity. Risk factors include the cyclicality of the company’s end-markets, exposure to volatile raw material costs, and its, at times, aggressive capital allocation strategy. ...

Does Owens Corning have a capital allocation policy?

While Owens Corning follows a disciplined capital allocation policy, it may temporarily operate at the upper end of its leverage target for potential acquisitions. Fitch acknowledges Owens Corning's strong credit metrics, including a pro forma EBITDA leverage of about 2x for the last twelve months ended Sept. 30, 2024. ...

Why did Owens Corning buy Masonite?

The acquisition of Masonite has added strategic value by expanding Owens Corning's overall footprint and enhancing its position in the building products sector. The company is also considering strategic alternatives for its global glass reinforcements business, which generates about $1.3 billion of annual revenues. 3rd party Ad. ...