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AAR Corp. Oct 06
Standard & Poors, Oct 2006
Abstract
Largest independent provider of aviation support services; and Moderate financial policies. AAR's primary market, the airline industry, is highly cyclical; Competitive operating environment; and Modest, albeit improving, profitability. The ratings on AAR Corp. reflect the risks associated with highly cyclical and competitive conditions in the airline industry, the firm's primary market, and modest, albeit strengthening, profitability. Those factors are offset in part by the company's established business position, moderate financial policies, and sufficient liquidity. 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. The recovery follows a severe downturn in the aftermath of the Sept. 11, 2001, attacks and other...
Companies mentioned in this report are: AAR Corp.
Action: Review
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: Full Analysis
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