The estimated 2008 payout ratio is 43% based on 2008 estimated earnings of $3.07. This earnings estimate is down 20% from 2007 earnings of $3.75. The 5-year average payout ratio is 18%. The company carries an S&P Quality Ranking of A+. According to MarketWatch though, Standard and Poor's may downgrade HOG's "A" credit rating due to softer demand for the company's bikes.