Moody’s rates Genuine Parts Baa1

Moody’s Investors Service said it assigned a Baa1 issuer rating to Genuine Parts Co. and a stable outlook. This is the first time Moody’s has rated Genuine Parts.

“The Baa1 rating reflects GPC’s solid credit metrics, with adjusted debt/EBITDA and EBIT/interest well-within Moody’s investment-grade ranges, as well as strong qualitative factors, including brand strength and execution,” stated Charlie O’Shea, a Moody’s vice president, in a press release.

The outlook reflects the view GPC will be able to manage through virtually any macroeconomic or industry scenario with minimal impact on its credit profile, Moody’s said.

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