S&P: Harley-Davidson positive, notes BBB+

Standard & Poor's said it revised its BBB+ outlook on Harley-Davidson Inc. to positive from stable.

In addition, the agency said it assigned its BBB+ issue-level rating to Harley-Davidson Financial Services Inc.'s proposed medium-term notes due 2015.

The agency said it also affirmed its existing ratings on the company, including the BBB+ long-term corporate credit and A-2 short-term rating on the company.

"The revision of the rating outlook to positive reflects our view that efficiencies in the company's manufacturing process should continue to drive improvements in credit measures based on our expectation for continued positive momentum in 2013," said S&P credit analyst Jennifer Pepper in a news release.

"Additionally, we believe more stringent underwriting standards have supported better-quality receivables at Harley-Davidson Financial Services, which, if sustained, should reduce the risk of the company maintaining access to securitization funding on a cost-efficient basis."

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