Fitch Rates Proposed Mohawk Offering at BBB

New York, NY, Jan. 29, 2013 --  Fitch Ratings has assigned a 'BBB-' rating to Mohawk Industries proposed offering of senior unsecured notes due 2023.

The company intends to use the proceeds of the notes issuance to partially fund the $1.5 billion acquisition of the Marazzi Group.

Fitch said the rating for Mohawk reflects the company's leading market position in most of its major business segments, strong brand recognition, and end-market diversity.

The Marazzi acquisition is expected to be funded with roughly $900 million of new debt, $300 million of cash and $325 million of Mohawk stock.


Other Archived Articles

CARE Seeking Markets for Recycled PET   Full Article
Dalton, GA, June 4, 2013 -- Carpet America Recovery Effort is looking for someone to lead the development of sustainable commercial solutions for recycling post-consumer polyester carpet.

Bona AB, Kunzle & Tasin, Form Partnership   Full Article
Stockholm, Sweden, June 4, 2013 -- Bona AB, the maker of products for hardwood floors, and Kunzle & Tasin S.r.l., the manufacturer of sanding machines, have entered into a strategic partnership.

New Homes Getting Larger Again   Full Article
Washington, DC, June 4, 2013 -- The average size of new homes has grown significantly in the last three years, according to a Census Bureau report released Monday.

Premiere Finishing Signs Distributor Lifton   Full Article
Reidsville, NC, June 4, 2013 -- Premiere Finishing & Coating has entered into a distribution agreement with the Norman D. Lifton Company of Mt. Vernon, N.Y. to distribute its ecoGrain product.

Manufacturing Sector Contracts in May   Full Article
Washington, DC, June 3, 2013 -- The manufacturing sector contracted in May for the first time in six months, according to the Institute for Supply Management.

Construction Spending Rises in April   Full Article
Washington, DC, June 3, 2013 -- Spending on U.S. construction projects rose in April despite a dip in residential spending.

Propex Expanding Georgia Backings Plant   Full Article
Chattanooga, TN, June 3, 2013 -- Propex Operating Company said it will expand its carpet backings manufacturing facility in Hazlehurst, Georgia.

Bob Weiner Launches New Carpet Mill in Dalton   Full Article
Dalton, GA, June 3, 2013 -– A new carpet company began manufacturing carpet tile and other products last month.

Beaulieu Marks 35th Anniversary   Full Article
Dalton, GA, June 3, 2013 -– On the heels of unveiling a new corporate identity and new CEO Karel Vercruyssen, along with the pending retirement of Ralph Boe, Beaulieu America is also marking its 35th anniversary as a company.

PG Hardwood Wins Chamber Award of Excellence   Full Article
Saint-Édouard-de-Lotbinière, Quebec, Canada, June 3, 2013 -– PG Hardwood Flooring was presented an Award of Excellence by the Chamber of Commerce of Lévis at the Pléiades.

CRI Certifies New Vacuums, Solutions   Full Article
Dalton, GA, June 3, 2013 -- The Carpet and Rug Institute's Seal of Approval testing and certification program now stands at 374 solutions, 427 vacuums, 94 deep-cleaning extractors and 104 systems for a total 999.

CRI West Coast Meeting Set June 25   Full Article
Dalton, GA, June 3, 2013 -- The Carpet and Rug Institute's West Coast Annual Membership Meeting will be held Tuesday, June 25 from 9-11 a.m. at the Irvine Marriott Hotel in Irvine, Califoria.

Mercier Has Incentives for Consumers, Retailers   Full Article
Montmagny, QC, Canada, May 31, 2013 -- Mercier Wood Flooring is holding a promotion for both retailers and consumers.

Consumer Sentiment Near Six-Year High   Full Article
Ann Arbor, MI, May 31, 2013 -- Consumer sentiment rose to the highest level in almost six years in May, according to the Thomson Reuters/University of Michigan index.

Consumer Spending Falls in April   Full Article
Washington, DC, May 31, 2013 -- Consumer spending fell in April by the largest amount in almost a year, according to the Commerce Department.

Valinge Wins U.S. Patent on Wood Fiber Process   Full Article
Viken, Sweden, May 31, 2013 -- Valinge said that its subsidiary CeraLoc Innovation Belgium has been granted a U.S. patent regarding how its wood fiber floors are manufactured.

New LEED Version Getting Field Tests   Full Article
Washington, DC, May 31, 2013 -- The U.S. Green Building Council said that nearly 100 building projects worldwide are already using LEED v4 by participating in the LEED v4 beta.

Mortgage Rates Highest in More Than a Year   Full Article
Washington, DC, May 31, 2013 -- Mortgage rates hit their highest level in more than a year, according to Freddie Mac.

Builder Sentiment Still Positive in Multi-Family   Full Article
Washington, DC, May 31, 2013 -- Builders were a little less optimistic about the multi-family construction market in the first quarter, according to the National Association of Home Builders.

Regupol America Gets GreenCircle Certification   Full Article
Lebanon, PA, May 30, 2013 -- Regupol America, a supplier of recycled rubber flooring for athletic and commercial surfaces, has again earned a GreenCircle certification.