We have updated our analysis of Calhoun, Ga.-based Mohawk Industries Inc., taking into account its most recent acquisitions of IVC Group and KAI Group and our base case scenario for the next three years. We are affirming our 'BBB' corporate credit rating on Mohawk and revising our assessments of its liquidity to "strong" from "adequate" and its country risk to "low" from "very low." The stable outlook reflects our expectation that credit measures will support an "intermediate" financial risk profile, with debt to EBITDA of between 2x and 3x and funds from operations to debt of about 40%. On Aug. 27, 2015, Standard&Poor's Ratings Services affirmed its ratings, including its 'BBB' corporate credit rating, on Mohawk Industries Inc.
