Fitch Upgrades Harley-Davidson's IDR to 'A-'; Outlook Stable
CHICAGO--(BUSINESS WIRE)--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. See below for a complete list of ratings.
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.