Moody’s raises Grainger

Moody’s Investors Service said it raised W.W. Grainger Inc.’s senior unsecured ratings to A2 from A3.

“The ratings upgrades reflect Grainger's strong market position and Moody's expectations of on-going market share gains and continued earnings growth. Moody's expects Grainger to maintain a balanced approach to capital allocation and a conservative financial policy with debt to EBITDA remaining comfortably below 1.5x,” the agency said in a press release.

Additionally, Moody’s said it expects healthy cash generation with FCF to debt, after dividends, for Grainger nearing 20% during 2023.

The outlook is stable.

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