Cornerstone Building Brands, Inc.’s credit rating was downgraded by Moody’s Ratings for the second time in less than a year after the construction company was squeezed by higher costs driven by tariffs and weaker demand, a dilemma shared by others in the industry.
The Clayton, Dubilier & Rice-backed company, which has about $5 billion in debt according to Bloomberg-compiled data, is expected to report weaker earnings next year, the ratings firm said. Moody’s lowered Cornerstone’s high-yield debt one notch to Caa1 after cutting the manufacturer to B3 in March. The credit grader now expects Cornerstone leverage of about ...
