Installed Building Products Announces Ratings Upgrade from Moody’s

Installed Building Products, Inc. (the “Company” or “IBP”), an industry-leading installer of insulation and complementary building products, announced that Moody’s Investors Service, Inc. (“Moody’s”) has upgraded IBP’s corporate family rating to Ba1 from Ba2, probability of default rating to Ba1-PD from Ba2-PD. Moody’s also upgraded the rating on the Company’s existing senior secured first lien term loan due 2028 to Ba1 from Ba2 and senior unsecured notes due 2028 to Ba2 from B1. The Company’s speculative grade liquidity rating remains SGL-1. The outlook is maintained at stable.

Moody’s noted that the upgrades reflect Moody’s expectations that IBP will continue to perform well and maintain low financial leverage. Moody’s also noted that IBP has a very good liquidity profile characterized by the Company’s ability to generate cash flow, as well as IBP’s commitment to conservative financial policies.

About Installed Building Products

Installed Building Products, Inc. is one of the nation’s largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects in all 48 continental states and the District of Columbia from its national network of over 240 branch locations.

Source: Installed Building Products, Inc.