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AAR Corp. Ratings Raised To 'BB' From 'BB-', Outlook Stable Oct 06
Standard & Poors, Oct 2006
Abstract
NEW YORK (Standard & Poor's) Oct. 13, 2006--Standard & Poor's Ratings Services raised its ratings on Dale, Ill.-based aviation support services provider AAR Corp., including the corporate credit to 'BB' from 'BB-'. The outlook is stable. About $300 million of debt is outstanding (excluding $30 million of nonrecourse debt). 'The upgrade is based on improved credit protection measures, benefiting from generally better industry environment, expanding scope of services, and increasing operating efficiency,' said Standard & Poor's credit analyst Roman Szuper. The global airline industry continues to recover in 2006, spurred by a healthy economy and growing air traffic, although high oil prices have constrained gains at many air carriers. Profit increases in 2005 and 2006 and conversion of debt to...
Companies mentioned in this report are: AAR Corp.
Action: Upgraded
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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