Moody’s raises Rough Country

Moody’s Investors Service said it upgraded the ratings of Rough Country, LLC, including the company’s corporate family rating and senior secured rating to B2 from B3, and the probability of default rating to B2-PD from B3-PD.

“Rough Country’s ratings upgrade to B2 reflects the company’s continual improvement in its debt metrics through strong organic growth, including substantial outperformance during the coronavirus pandemic than originally anticipated,” said Mike Cavanagh, Moody’s lead analyst for Rough Country, in a press release.

“The relative strength of the company’s leverage profile and liquidity position provide adequate protection should demand taper off in the next year as other outlets for consumer discretionary spend return to the economy, although the company could pursue a more aggressive financial policy than in recent years,” Cavanagh said.

The outlook is stable.

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