Moody's alters Floor and Decor view to positive

Moody's Investors Service said it changed Floor and Decor Outlets of America, Inc.'s (Floor & Decor) outlook to positive from stable.

"The positive outlook reflects Floor & Decor's solid execution coupled with the continued demand for hard surface flooring as home remodeling benefits from a healthy consumer, low interest rates and a favorable housing market," said Christina Boni, a Moody’s senior vice president, in a press release.

"Solid returns from its new store builds remains critical as the company cycles outsized growth in the flooring category," Boni added.

The agency also affirmed Floor & Decor's corporate family rating at Ba3, its probability of default rating at Ba3-PD and its senior secured bank credit facility at Ba2. Floor & Decor's speculative grade liquidity rating is maintained at SGL-2.

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