Fitch rates Harley-Davidson notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Harley-Davidson Financial Services, Inc. $450 million five-year medium-term note.

HDFS is the captive finance subsidiary of Harley-Davidson, Inc.

Ratings reflect the company's close operating relationship with Harley-Davidson Inc., which is governed by a support agreement in favor of debt holders under which Harley-Davidson must maintain fixed-charge coverage at 1.25 times and minimum net worth of $40 million, according to the agency.

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