Harley-Davidson Inc.’s A- credit rating was placed on CreditWatch with negative implications Wednesday at S&P Global Ratings, citing increased business risks as a result of tariffs and declining sales and shipments. The A- rating is four notches above speculative grade, or junk, territory. The motorcycle maker said this week that it would not raise prices to combat retaliatory tariffs imposed by the European Union, which could raise the average cost of EU bound motorcycles by $2,200, and plans to eventually shift some production overseas to reduce the impact of the tariffs. “The CreditWatch placement reflects our belief that near-term cost increases due to retaliatory tariffs imposed by the EU, combined with other significant headwinds, could cause margin deterioration and increase business risks over the next several years,” S&P said in a statement. “We could lower our rating on Harley as a result.” The stock edged up 0.2% in premarket trade Wednesday, after tumbling 8.7% over the previous three sessions. It has lost 19% year to date through Tuesday, while the S&P 500 has gained 1.9%.