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Bulletin: Hawker Beechcraft Inc. Hires Advisory Firm; Ratings And Outlook Are Unaffected Dec 11
Standard & Poors, Dec 2011
Abstract
NEW YORK (Standard & Poor's) Dec. 14, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on U.S.-based Hawker Beechcraft Inc. (CCC/Negative/--) are not affected by the company's recent hiring of Perella Weinberg Partners, a firm that provides financial advisory services including advice on financial restructuring. When we downgraded Hawker Beechcraft on Dec. 1, 2011, we stated that although we expect the company modestly improve its financial results in 2012, the improvement may not be sufficient for it to remain in compliance with the minimum EBITDA covenant in its revolving credit facility, which increases each quarter. We also see a risk that the company may pursue what we would consider a distressed debt exchange under our criteria...
Companies mentioned in this report are: Hawker Beechcraft Inc.
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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