S&P assigns Mohawk notes BBB+

S&P said it assigned its BBB+ issue-level rating to Mohawk Industries Inc.’s proposed €500 million of senior unsecured notes, issued by Mohawk Capital Finance SA.

The company will use proceeds for general corporate purposes.

If markets start recovering by the end of 2020, S&P said it sees Mohawk’s debt leverage to potentially increase only to the mid-2x area on a trailing-12 month basis before improving to below 2x during 2021.

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