Moody's Ratings assigns B3 rating to Patrick's senior unsecured notes
Moody's Ratings (Moody's) assigned a B3 rating to Patrick Industries, Inc.'s ("Patrick") new senior unsecured notes. The company's B1 corporate family rating ("CFR"), B1-PD probability of default rating and B3 ratings on the existing senior unsecured notes remain unchanged. The Speculative Grade Liq...Patrick Industries manufactures component products and distributes building products and materials serving original equipment manufacturers primarily in the recreational vehicle, manufactured housing and marine markets. The company's manufacturing segment includes the following products, among others: laminated products that are utilized to produce furniture, shelving, walls, countertops, and cabinet products, cabinet doors, fiberglass bath fixtures and tile systems. The company's distribution segment distributes, among others, pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics and audio systems components, appliances, wiring, electrical and plumbing products.
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