Moody's: Griffon's ratings are unchanged at B1 CFR on proposed add-on senior unsecured notes offering
Announcement: Moody's: Griffon's ratings are unchanged at B1 CFR on proposed add-on senior unsecured notes offering. Global Credit Research- 08 Jun 2020. New York, June 08, 2020-- Moody's Investors Service, says Griffon Corporation's ratings, including the company's B1 Corporate Family Rating remain unchanged following the proposed $150 million add-on to its existing senior unsecured notes due 2028. The outlook remains stable.Griffon is a management and holding company that conducts its business through wholly-owned subsidiaries. The company's segments: Consumer and Professional Products, which manufactures and markets a portfolio of long-handled tools, landscaping products, and home organization product used by seasonal outdoor tools, project tools, outdoor decor and watering, home organization, and cleaning products categories; Home and Building Products, which manufactures a line of residential sectional garage doors; and Defense Electronics, which designs, develops, manufactures and provides logistical support and lifecycle sustainment services to defense, aerospace and commercial customers.
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