Moody's upgrades Generac

Moody's Investors Service said it upgraded Generac Power Systems, Inc.'s corporate family rating and senior secured rating to Ba1 from Ba2 and probability of default rating to Ba1-PD from Ba2-PD. The speculative grade liquidity rating is unchanged at SGL-1.

The outlook is stable.

“The upgrade to Ba1 takes into account expectations for steady growth in profit and cash flow as Generac increases penetration of its flagship product, residential standby generators, and develops ancillary business off of that installed base,” Moody’s said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.