Fitch views Sherwin-Williams positively

Fitch Ratings said it revised the outlook for the Sherwin-Williams Co. (SHW) to positive from stable and affirmed its ratings, including the company's long-term issuer default rating and unsecured ratings at BBB.

“The positive outlook reflects Fitch's expectation that margins will continue to recover as raw material costs stabilize or decline further while pricing remains relatively stable. Fitch expects EBITDA leverage will decline to Fitch's positive rating sensitivity of 2.5x by the end of 2023 and below this level in 2024,” the agency said in a press release.

Additionally, Fitch noted SHW wants to add 100 stores a year and added production capacity to help fuel its growth.

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