- Language: English
- Published: July 2012
Summary: AAR Corp. Sep 04
- ID: 2042288
- September 2004
- Standard & Poors
The ratings on Wood Dale, Ill.-based AAR Corp. reflect the risks associated with highly cyclical conditions in the airline industry, the firm's primary market, offset partly by the company's established business position and moderately leveraged capital structure. The ratings also incorporate expectations that the firm's weak profitability and subpar credit protection measures will continue to improve. AAR is the largest independent provider of aviation support services, operating in four groups: inventory and logistic services (about 40% of revenues); maintenance, repair, and overhaul (30%-35%); manufacturing (20%-25%); and aircraft and engine sales and leasing (5%). The U.S. is the largest market, accounting for about 75% of sales. In the fiscal year ended May 31, 2004, AAR recorded sales and earnings growth in...
Companies mentioned in this report are: AAR Corp.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >