- Published: December 2011
- Region: Global
Summary: AAR Corp. Mar 04
- Published: March 2004
- Standard & Poors
The ratings on Wood Dale, Ill.-based AAR Corp. reflect the risks associated with difficult conditions in the airline industry, the company's primary market; weak profitability; and subpar credit protection measures. Those factors are partly offset by the company's established business position and moderately leveraged capital structure. AAR is the largest independent provider of aviation support services, operating in four groups: inventory and logistics services (40%-45% of revenues); maintenance, repair, and overhaul (30%-35%); manufacturing (about 20%); and aircraft and engine sales and leasing (5%). The U.S. is the largest market, accounting for about 75% of sales. The Sept. 11, 2001, attacks, a sluggish global economy in the past two years, the Iraq war, and SARS have had a severe impact on...
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 >