S&P: Toro view positive

Standard & Poor's said it revised the outlook on Toro Co. to positive from stable and affirmed the BBB- corporate credit rating.

Over the past several years, the issuer had an average debt-to-EBITDA ratio of about 1 times.

Ratings reflect the company's leading and growing market positions in the professional turf market, its solid market positions in consumer-powered lawn and garden products, its diversified product portfolio and its moderate debt burden, the agency said.

These factors are offset partially by the high degree of seasonality in the company's residential business and the highly competitive nature of its end markets, S&P said.

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