Rating Action: Moody's upgrades Carriage Services' CFR to B1, senior unsecured to B2; outlook stableGlobal Credit Research - 19 Feb 2021New York, February 19, 2021 -- Moody's Investors Service ("Moody's") upgraded Carriage Services, Inc.'s (Carriage) corporate family rating (CFR) to B1 from B2, probability of default rating (PDR) to B1-PD from B2-PD and senior unsecured rating to B2 from B3. The Speculative Grade Liquidity rating was upgraded to SGL-2 from SGL-3, indicating good liquidity. The outlook remains stable."Revenue growth, EBITDA margin expansion and substantial debt reduction resulted in strong free cash flow generation and a decline in year-end 2020 Moody's adjusted leverage estimated to be 4.5x," said Sean Cray, Moody's Analyst.