|
|
 |
|
Viewing report
|
|
|
|
AAR Corp. Ratings Lowered, Remain on CreditWatch Negative Apr 03
Standard & Poors, April 2003
Abstract
NEW YORK (Standard & Poor's) April 18, 2003--Standard & Poor's Ratings Services said today that it lowered its ratings, including lowering the corporate credit rating to 'BB-' from 'BBB-', on aviation support services provider AAR Corp. The ratings remain on CreditWatch with negative implications, where they were placed on Feb. 19, 2003. Outstanding debt is about $250 million. 'The downgrade reflects AAR's weak earnings, with an expectation of continued pressure on revenues, and reduced financial flexibility,' said Standard & Poor's credit analyst Roman Szuper. 'As a result, most credit protection measures are poor and likely to remain significantly below those consistent with the prior rating, given a very challenging operating environment in the firm's primary market, the airline industry,' the...
Companies mentioned in this report are: AAR Corp.
Action: Downgraded, On CreditWatch Negative
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.
|
|
|
|
