S&P revises Holley Purchaser view to stable

S&P said it revised the outlook on Holley Purchaser Inc. to stable from negative and affirmed its B- issuer credit rating.

“The outlook revision and affirmation reflect our updated forecast for adjusted debt to EBITDA in the 6.5x-7x range in 2020 and 2021 and the robust near-term demand for the company's products. Holley's second-quarter results, as well as those of other auto aftermarket companies, suggest that their performances in fiscal years 2020 and 2021 could be more favorable than the expectations we published on March 19, 2020, despite the continued significant macroeconomic headwinds and uncertainty surrounding the timeline for the containment of the coronavirus,” S&P said in a press release.

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