DBRS confirms Lowe’s

DBRS said it confirmed Lowe’s Cos., Inc.’s issuer rating and senior unsecured debt rating at A (low) and short-term issuer rating at R-1 (low), all with stable trends.

DBRS said the confirmation reflects the company’s solid operating performance in the fiscal year ended Feb. 2, and relatively stable credit metrics, despite an increase in balance sheet debt.

“The ratings continue to be supported by Lowe’s strong brand and market position, large scale and geographic diversification and free cash flow–generating capacity,” the agency said in a news release.

“The ratings also consider the intense competitive environment, the economic cyclicality of the home improvement sector and the potential for more aggressive financial management.”

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