Fitch Raises Harley-Davidson Rating

Fitch Ratings has upgraded the Issuer Default Ratings (IDRs) of Harley-Davidson, Inc. (HOG) and its Harley-Davidson Financial Services, Inc. (HDFS) and Harley-Davidson Funding Corp. (HDFC) subsidiaries to  'A-'. The Rating Outlooks for HOG, HDFS and HDFC are Stable.
       The upgrades reflect the motorcycle manufacturer's leading position in the U.S. heavyweight motorcycle segment, its robust cash liquidity position, high EBITDA margins and low operating company (OC) leverage. Demand for Harley-Davidson motorcycles remains strong in the U.S., with dealer sales growing consistently since early 2011, while outside the U.S. the company continues to see positive growth trends in emerging markets.


Read more: