Moody’s rates Masonite’s $500M notes
Moody's Investors Service assigned a Ba3 rating to Masonite International Corp.'s (NYSE: DOOR) proposed $500 million senior unsecured notes. Proceeds will be used to refinance earlier debt. Masonite, a door manufacturer based in Tampa, has a strong competitive position that benefits from technology innovation, Moody's said. The Ba3 rating is a speculative-grade rating. Moody's also assigned a stable outlook to the notes, reflecting the credit agency's views that Masonite will continue to benefit from the stable new housing construction and repair and remodeling activity in the United States.