S&P turns Winnebago view to positive

S&P said it changed Winnebago Industries Inc.’s outlook to positive from stable, citing strong first-quarter results.

“The positive outlook reflects the possibility that we will raise our rating on Winnebago over the next several months if its demand remains strong during its busy spring selling season, enabling the company to maintain adjusted leverage of well below 4x through fiscal year 2022,” S&P said in a press release.

The agency said it estimated Winnebago nearly doubled its EBITDA in its fiscal first quarter of 2021 relative to the same period last year, reflecting the robust demand for recreational vehicles and the full-year contribution from luxury RV manufacturer Newmar.

Concurrently, the agency affirmed Winnegabo’s ratings, including the B+ issuer rating.

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