S&P Global Ratings Cuts Harley-Davidson's Credit Rating to Junk Status
HOG sits 48% above its 52-week low of $17.09.
Summary
S&P Global Ratings has downgraded Harley-Davidson's credit rating to junk status, citing the company's strategy to sell lower-cost motorcycles to boost revenue. This follows a period of significant financial headwinds for the company, including a sharp decline in Q1 diluted EPS and operating income, a shift to negative operating cash flow, and expected tariff costs, as detailed in recent SEC filings and news. The junk rating will likely increase Harley-Davidson's borrowing costs and could restrict its access to capital, adding further pressure to its financial stability.
At the time of this announcement, HOG was trading at $25.30 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $17.09 to $31.25. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Binance News.