This report does not constitute a rating action. NEW YORK (S&P Global Ratings) Oct. 30, 2026--S&P Global Ratings today said that Calhoun, Georgia-based global flooring supplier Mohawk Industries Inc. ’s (BBB+/Stable/--) recently announced changes to its strategic and capital allocation frameworks are in line with our expectations for the ‘BBB+’ rating. Mohawk will target a long-term net debt to EBITDA ratio of up to 2x. Our downside trigger for the ‘BBB+’ rating is S&P Global Ratings-adjusted leverage sustained above 2x. As of Sept. 30, 2026, Mohawk’s adjusted leverage was 1.1x, which is 0.4x higher than the company-adjusted measure of 0.7x. We attribute the difference to our treatment of about $310 million restricted cash held in the company’s Russian subsidiary, which
