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TransDigm Inc. Sep 11 Product Image

TransDigm Inc. Sep 11

  • ID: 1924316
  • September 2011
  • Standard & Poors

Abstract
Leading positions in its niche markets; and Efficient operations, as evidenced by very high profit margins. High debt leverage; An active acquisition program; and Participation in the cyclical commercial aerospace market. The ratings on TransDigm Inc. reflect Standard & Poor's Ratings Services' expectation that the company's very strong profit margins, growing earnings, and improving commercial aerospace market conditions, combined with contributions by the recently acquired McKechnie Aerospace Holdings Inc. (unrated), will enable the company to reduce leverage and restore credit measures to levels more appropriate for the rating during the next 12 to 18 months. These reductions and restorations include TransDigm's total debt to EBITDA declining to about 5x. We believe that TransDigm has the ability to reduce leverage more...

Companies mentioned in this report are: TransDigm Inc.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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