Moody's trims Harley-Davidson

Moody’s Investors Service said it downgraded the senior unsecured ratings of Harley-Davidson, Inc. and Harley-Davidson Financial Services, Inc. to Baa1 from A3.

“The ratings reflect Moody’s expectation that Harley-Davidson's EBITA margins are unlikely to exceed the upper single digit level, well below historic levels, even with the company's extensive marketing and operating initiatives. This margin pressure is a result of the prolonged decline in demand in Harley-Davidson's core U.S. market,” said Moody’s in a press release.

The outlook is stable.

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