Griffon Corporation: Update following outlook change to positive
Our credit view of Griffon reflects its good product diversification and market position, offset by its exposure to cyclical downturns, US housing market, weather and customer concentration.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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