...Spectrum Brands, Inc.'s Long-Term Issuer Default Rating (IDR) of `BB' and Stable Outlook reflect the company's active portfolio shaping, including the September 2021 announcement of the sale of the company's Hardware and Home Improvement (HHI) business; the February 2022 acquisition of the appliance and cookware business of Tristar Products, Inc.; and Spectrum's decision to pursue strategic alternatives for its Home and Personal Care business (HPC), which includes the acquired Tristar businesses. Spectrum announced a new target of managing net leverage below 2.5x, down from 4.0x historically, in conjunction with the sale of its HHI business....
