Masco has done a nice job of chipping away at its sizable debt load. - Morningstar Credit Research

Masco has done a nice job of chipping away at its sizable debt load.

Masco has done a nice job of chipping away at its sizable debt load. - Morningstar Credit Research
Masco has done a nice job of chipping away at its sizable debt load.
Published Dec 29, 2016
13 pages — Published Dec 29, 2016
Price US$ 350.00  |  Buy this Report Now

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Brief Excerpt:

...Our rating reflects Masco s solid portfolio of four product lines and improving financial metrics. After a portfolio review and spin-off of its highly cyclical installation business in 2015, Masco now has a portfolio of market- leading brands focused primarily on the less-cyclical repair and remodel market. These range from Delta faucets to Behr paint to Milgard windows, each of which has sustainable competitive advantages, in our view. This drives the firm s narrow economic moat, as assigned by Morningstar, Inc., a positive for our Business Risk assessment. Still, a modest degree of cyclicality and management s desire to continue to make bolt-on acquisitions tempers that score. Masco has delivered strong deleveraging over the past several years since gross leverage peaked at over 8 times in 2011. Total debt has since been reduced to $3 billion from $4 billion and leverage has declined to under 3 times. Meanwhile, the company continues to maintain healthy liquidity with cash exceeding $1...

  
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0C0000088R_20161229_CREDIT
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MLA:
Morningstar Credit Research. "Masco has done a nice job of chipping away at its sizable debt load." Dec 29, 2016. Alacra Store. Jun 26, 2019. <http://www.alacrastore.com/storecontent/Morningstar-Credit-Research/Masco-has-done-a-nice-job-of-chipping-away-at-its-sizable-debt-load-2137-33800>
  
APA:
Morningstar Credit Research. (2016). Masco has done a nice job of chipping away at its sizable debt load. Dec 29, 2016. New York, NY: Alacra Store. Retrieved Jun 26, 2019 from <http://www.alacrastore.com/storecontent/Morningstar-Credit-Research/Masco-has-done-a-nice-job-of-chipping-away-at-its-sizable-debt-load-2137-33800>
  
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