Skip to main content
Updated:
Original:

S&P revises Brunswick’s rating

Standard & Poor's Ratings Services revised its rating outlook on Brunswick Corp. from negative to stable. Ratings on the company, including the B- corporate credit rating, were affirmed.

"The outlook revision is based on our expectation that Brunswick's liquidity will be sufficient to carry it at least through 2010," Standard & Poor's credit analyst Andy Liu said in a statement.

As of Oct. 3, Brunswick had $624 million of cash and cash equivalents and about $120 million of borrowing availability under its asset-back revolving credit facilities. These liquidity sources should be sufficient for operating needs in the coming year, according to Standard & Poor's.

The B- corporate credit rating reflects the sharp decline in Brunswick's profitability because of difficult recreational marine conditions and decreased prospects for a substantial industry turnaround in the intermediate term, Standard and Poor's said.

Related

Metstrade Wraps

International Marine Networking’s Ben Taylor said a “solid international audience” was on hand at Amsterdam’s RAI Center for this year’s event.

Lyman-Morse to Build Hydrofoil-Equipped Electric Vessel

The Maine shipyard was tapped by Navier to build its 27-foot performance boat, slated to splash at next year’s FLIBS.

Aquila Names Approved Boats as U.K. Reps

The power cat manufacturer has appointed Approved Boats its representative in the United Kingdom.

Training with ABYC

After attendance of 400 professionals at last week’s ABYC-CG online risk-management event, ABYC invites early bird registrations for its scheduled in-person marine-law seminar on Jan.11, 2022.

VIDEO: Women in the Industry — Impact and Empowerment

Metstrade TV hosted three remarkable industry leaders for a panel discussion.

Mastervolt and Whale Join ASG EMEA

Brunswick’s ASG EMEA now has 13 marine brands operating as a single organization.

Best of the Best

Sea Tow International presented its annual awards for outstanding service, boating advocacy and community support.