Fitch rates Harley-Davidson notes BBB+

Fitch Ratings said it assigned a rating of BBB+ to the $500 million senior unsecured notes due 2014 issued by Harley-Davidson Funding Corp., a fully guaranteed subsidiary of Harley-Davidson Financial Services, Inc.

The issuer default rating for Harley-Davidson Financial and ultimate parent Harley-Davidson Inc. is BBB+.

The outlook is negative.

The BBB+ rating reflects Harley-Davidson's brand strength, distribution network, free flow cash generation from manufacturing operations and good manufacturing operating margins, Fitch said.

Harley-Davidson is expected to have a debt-to-EBITDA ratio of less than 1.5 times in 2009, the agency said.

© 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.