S&P revises Thor view to positive

S&P said it revised the outlook for Thor Industries Inc. to positive from negative and affirmed all its ratings, including the BB- issuer rating.

“The outlook revision to positive and the rating affirmations reflect rapidly rising demand for RVs, which will likely enable Thor to maintain adjusted debt to EBITDA well below 3.25x through fiscal 2021,” S&P said in a press release.

Public perception that RVs are a safe travel option during the pandemic has delivered relatively robust revenue and EBITDA generation at Thor in its fiscal fourth-quarter 2020 (ended July 31, 2020), and S&P said this could continue through fiscal 2021.

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