Following its earnings release for its second fiscal quarter ended Sept. 30, 2019, Range Parent Inc.'s leverage ratio may remain high during fiscal 2021. S&P Global Ratings is lowering the ratings on Range Parent by one notch, including the issuer credit rating to 'B-'. The stable outlook reflects our view that despite the potential for flat or slightly contracting organic sales during the next 12 months, the company's focus on cost optimization should keep credit measures appropriate for the ratings while healthy cash balances and sufficient revolver availability preserve adequate liquidity. The downgrade of Range Parent, the indirect parent of home appliance and transportation components firm Robertshaw Controls Co., reflects our view that despite the company's efforts on cost control
