...February 9, 2024 ENGLEWOOD (S&P Global Ratings) Feb. 9, 2024--S&P Global Ratings today said that Owens Corning's (###/Stable/--) acquisition of Masonite International Corp. (##+/Stable/--) will modestly increase leverage in 2024, expand its exposure to the doors market, and fit well within its broader portfolio of roofing and building material product lines. Owens Corning announced a definitive agreement to acquire Masonite International Corp. for approximately $4.1 billion, financed with cash on hand and new debt financing. We believe Masonite, a manufacturer and distributor of interior and exterior doors, will fit well within Owens Corning's broader array of building material product lines such as roofing materials, insulation, and composites. In addition, we view Masonite's end markets, specifically its residential interior and exterior doors, as more discretionary than some of Owens Corning's existing products that are nondiscretionary, such as roofing. This could lead to a moderate...
