Moody’s upgrades Holley Purchaser

Moody’s Investors Service upgraded the ratings of Holley Purchaser, Inc., including its corporate family rating to B3 from Caa1, probability of default rating to B3-PD from Caa1-PD, and its senior secured first-lien bank credit facilities to B2 from B3.

“The upgrades reflect Holley’s outperformance relative to original expectations for 2020, with improved credit metrics compared to pre-pandemic levels to position the company to withstand potential demand softening into 2021. In addition, strong free cash flow for 2020 and full availability on its revolving credit facility have contributed to expectations for Holley to maintain adequate liquidity,” Moody’s said in a press release.

The outlook is stable.

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