Research And Markets Research And Markets

Industry Report Card: Global Aerospace & Defense Apr 04

  • ID: 2042600
  • April 2004
  • Region: Global
  • Standard & Poors
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  • AAR Corp.
  • Aviall Inc.
  • Boeing Co.
  • Goodrich Corp.
  • Lockheed Martin Corp.
  • Precision Castparts Corp.
  • MORE

There were no rating changes in the commercial aerospace sector subsequent to the release of the last report card, published Dec. 24, 2003, compared with considerable rating activity for most of 2003. About 45% of firms that derive a significant portion of their revenues and earnings from commercial aviation are now investment grade, with the balance noninvestment grade. Currently, 45%-50% of ratings have stable outlooks and 50%-55% have negative outlooks. The Sept. 11, 2001, attacks, a sluggish global economy in the past two years, the Iraq war, and the severe acute respiratory syndrome (SARS) outbreak have severely affected commercial aviation, leading to a decline in air travel, excess capacity, and deep losses by many airlines, especially those in the U.S....

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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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- Boeing Co.
- Aerojet Rocketdyne Holdings Inc
- General Dynamics Corp.
- Goodrich Corp.
- Kaman Corp.
- Boeing Capital Corp.
- Moog Inc.
- Raytheon Co.
- Textron Inc.
- United Technologies Corp.
- Honeywell International Inc.
- Hexcel Corp.
- BAE Systems PLC
- Airbus Group SE
- AAR Corp.
- Sequa Corp.
- Thales S.A.
- K&F Industries Inc.
- Bombardier Inc.
- Orbital Sciences Corp.
- B/E Aerospace Inc.
- Sabreliner Corp.
- Orbital ATK Inc.
- Lockheed Martin Corp.
- Northrop Grumman Corp.
- Communications & Power Industries Inc.
- L-3 Communications Corp.
- Argo-Tech Corp.
- United Defense Industries Inc.
- Precision Castparts Corp.
- DeCrane Aerospace Inc.
- TransDigm Inc.
- Rolls-Royce PLC
- Dunlop Standard Aerospace Holdings PLC
- Vought Aircraft Industries Inc.
- Rockwell Collins Inc.
- DRS Technologies Inc.
- Aviall Inc.
- Esterline Technologies Corp.
- Armor Holdings Inc.
- Avio Holding SpA
- ARINC Inc.

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown