Bulletin: Mohawk Industries Inc. 'A-2' Ratings Unaffected By Multicurrency Commercial Paper Program Upsize To $1.8 Billion

NEW YORK (Standard&Poor's) April 1, 2016--Standard&Poor's Ratings Services said today that its 'A-2' short-term foreign and local currency ratings on Mohawk Industries Inc. and on its subsidiary, Mohawk Capital Luxembourg S.A. remain unchanged following the increase in the company's euro commercial paper (CP) program to $1.8 billion U.S. dollar equivalent from €1 billion. The 'A-2' rating also applies to Mohawk's separate $1.8 billion U.S. CP program. We note that aggregate commercial paper outstanding under both programs cannot exceed $1.8 billion in total. Borrowings under the $1.8 billion U.S equivalent CP program in euros (and other currencies) may be in the name of Mohawk Capital Luxembourg S.A., in which case borrowings are guaranteed by Mohawk Industries Inc.

...NEW YORK (Standard & Poor's) April 1, 2016--Standard & Poor's Ratings Services said today that its 'A-2' short-term foreign and local currency ratings on Mohawk Industries Inc. and on its subsidiary, Mohawk Capital Luxembourg S.A. remain unchanged following the increase in the company's euro commercial paper (CP) program to $1.8 billion U.S. dollar equivalent from 1 billion. The 'A-2' rating also applies to Mohawk's separate $1.8 billion U.S. CP program. We note that aggregate commercial paper outstanding under both programs cannot exceed $1.8 billion in total. Borrowings under the $1.8 billion U.S equivalent CP program in euros (and other currencies) may be in the name of Mohawk Capital Luxembourg S.A., in which case borrowings are guaranteed by Mohawk Industries Inc. Borrowings under this program may also be directly in the name of Mohawk Industries Inc. The total outstanding under both the $1.8 billion U.S. program and $1.8 billion U.S. equivalent euro program are supported by Mohawk's...

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