|
|
 |
|
Viewing report
|
|
|
|
AAR Corp.'s $175 Million Convertible Notes Rated 'BB' Feb 08
Standard & Poors, Feb 2008
Abstract
NEW YORK (Standard & Poor's) Feb. 5, 2008--Standard & Poor's Ratings Services today assigned its 'BB' rating to AAR Corp.'s proposed $175 million of convertible senior unsecured notes to be issued in two equal tranches: $87.5 million notes due 2014 and $87.5 million notes due 2016. At the same time, we affirmed our ratings, including the 'BB' corporate credit rating, on the company. The outlook is stable. The notes are offered under Rule 144A with registration rights. Proceeds of the notes are expected to be used to repay about $125 million of borrowings under the company's revolving credit facility and for other purposes. 'The ratings on AAR reflect the risks associated with its primary market, the highly cyclical and competitive...
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.
|
|
|
|
