S&P ups Generac Power

S&P said it boosted the ratings on Generac Power Systems Inc. and its senior secured debt to BB from BB-. The recovery rating of 3 is unchanged.

“We expect Generac will sustain solid margins and maintain its debt leverage below 3x as growth across both domestic and international end markets remains healthy. Over the past 12 months, the company has reduced its debt leverage as its EBITDA margin expanded by 60 basis points (bps), reflecting a sales shift mix toward higher-margin home standby generator sales, and repayment of about $80 million of debt,” said S&P in a press release.

The outlook is stable.

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