Summary: Hawker Beechcraft Inc. Jun 11
- ID: 1831920
- June 2011
- Standard & Poors
The rating on Wichita, Kan.-based Hawker Beechcraft Inc. reflects poor credit protection measures because of continued losses and high debt leverage, risks associated with the current business jet market downturn--which is likely to last at least through 2011--and large swings in working capital. Standard & Poor's Ratings Services believes these factors easily outweigh the company's position as a well-established manufacturer of business jets, turboprops, and piston aircraft, and its adequate near-term liquidity. Hawker Beechcraft has benefited from lower long-term debt and interest expense following the 2009 purchase of almost $500 million in unsecured notes at values substantially below par, but continued difficult conditions in the business and general aviation (B&GA) aircraft market have pressured earnings and cash flow generation. Fewer...
Companies mentioned in this report are: Hawker Beechcraft Inc.
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