S&P Upgrades Holley Performance Brands’ Credit and Debt Ratings
18 6월 2024 - 5:05AM
Business Wire
Company has demonstrated improved financial
performance over the past several quarters
Holley Performance Brands (NYSE: HLLY), a leader in automotive
aftermarket performance solutions, today announced that S&P
Global Ratings (S&P) upgraded Holley’s issuer credit rating to
‘B’ from ‘B-’ and senior secured issue-level rating to ‘B’ from
‘B-’ on June 13, 2024.
S&P highlighted that the upgrade reflects Holley’s
improvement in leverage ratio supported by stronger profitability,
debt paydown, and more consistent free cash flow generation.
“We are proud of the progress we have made over the past few
quarters improving the financial health of Holley,” said Jesse
Weaver, Chief Financial Officer, Holley Performance Brands. “The
upgrade from S&P denotes a significant milestone as we continue
to focus on our key financial priorities. The report recognizes the
strengthening of Holley’s balance sheet and our potential to
further reduce our cost of capital. We look forward to continuing
to execute on our financial priorities while reducing leverage
further, driving better profitability and generating improved cash
flow.”
For more Holley company news, click here.
Certain statements in this press release may be considered
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
subject to risks, uncertainties, and other important factors which
could cause actual results to differ materially from those
expressed or implied by such forward-looking statements, including
but not limited to Holley’s ability to (1) successfully design,
develop, and market new products, (2) maintain and strengthen
demand for our products, (3) attract new customers in a
cost-effective manner, (4) expand into additional consumer markets,
and (5) and the other risks and uncertainties set forth in the
Annual Report on Form 10-K for the year ended December 31, 2023
filed with the U.S. Securities and Exchange Commission (“SEC”) on
March 14, 2024, and in any subsequent filings with the SEC.
About Holley Performance
Brands
Holley Performance Brands (NYSE: HLLY) leads in the design,
manufacturing and marketing of high-performance products for
automotive enthusiasts. The company owns and manages a portfolio of
iconic brands, catering to a diverse community of enthusiasts
passionate about the customization and performance of their
vehicles. Holley Performance Brands distinguishes itself through a
strategic focus on four consumer vertical groupings, including
Domestic Muscle, Modern Truck & Off-Road, Euro & Import,
and Safety & Racing, ensuring a wide-ranging impact across the
automotive aftermarket industry. Renowned for its innovative
approach and strategic acquisitions, Holley Performance Brands is
committed to enhancing the enthusiast experience and driving growth
through innovation. For more information on Holley Performance
Brands and its dedication to automotive excellence, visit
https://www.holley.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240617132286/en/
Media Relations: Paul Oakley, poakley@tinymightyco.com /
Rachel Withers, rwithers@tinymightyco.com
Investor Relations: Anthony Rozmus / Neel Sikka Solebury
Strategic Communications 203-428-3224 Holley@soleburystrat.com
Holley (NYSE:HLLY)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Holley (NYSE:HLLY)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024