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Martin Marietta Materials, Inc. -- Moody's upgrades Martin Marietta to Baa2 from Baa3; outlook stable

·14 min read
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Moody's Investors Service (Moody's) upgraded Martin Marietta Materials, Inc.'s (Martin Marietta) senior unsecured rating to Baa2 from Baa3. The rating upgrade reflects Moody's expectation for continued improvement in Martin Marietta's credit profile, the company's conservative approach to balance sheet management and liquidity, and higher predictability in free cash flow throughout this uncertain economic environment. "Over the past few years, Martin Marietta's management team has remained focused on execution, improving profitability, re-investing most of the free cash flow back into the business, and maintaining a conservative financial policy that balances the interests of the company's creditors with the interest of its shareholders."