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AAR Corp.'s Shelf Registration Assigned Preliminary Ratings Dec 08
Standard & Poors, Dec 2008
Abstract
NEW YORK (Standard & Poor's) Dec. 5, 2008--Standard & Poor's Ratings Services today assigned its preliminary 'BB' rating to senior unsecured debt securities and preliminary 'B+' rating to subordinated debt securities filed by AAR Corp. (BB/Stable/--) as part of a $300 million Rule 415 shelf registration. This shelf replaces the company's existing shelf registration that expired on Nov. 30, 2008. We expect the proceeds from any notes issued under the shelf to be used by AAR for various purposes, including working capital, repayment of existing indebtedness, and acquisitions. 'The ratings on AAR reflect the risks associated with its primary market, the highly cyclical and competitive airline industry, financing requirements to support growth initiatives, and a competitive operating environment. These factors...
Companies mentioned in this report are: AAR Corp.
Action: New Rating
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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