Moody's Ratings upgrades Griffon's CFR to Ba3; stable outlook
Moody's Ratings (Moody's) upgraded Griffon Corporation's (Griffon) ratings including the Corporate Family Rating (CFR) to Ba3 from B1, Probability of Default Rating (PDR) to Ba3-PD from B1-PD, the rating on the company's senior secured first lien bank credit facility to Ba1 from Ba2, and the rating ...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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