Moody’s Investors Service said it upgraded Continental Building Products’ Corporate Family Rating to B1 from B2 and revised its rating outlook to positive from stable, based on Moody’s expectation that operating performance will continue to benefit from end market growth.

In related rating actions, Moody’s upgraded Continental’s Probability of Default Rating to B1-PD from B3-PD and upgraded the ratings assigned to the company’s first lien facility to B1 from B2. Moody’s also changed Continental’s Speculative Grade Liquidity Rating to SGL-1 from SGL-2, supported by solid free cash flow and availability under its revolving credit facility.

Moody’s said approximately $465 million of rated debt was affected.

Access the full Moody’s Investors Service news release here.