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AAR Corp. Ratings Placed on CreditWatch Negative Feb 03
Standard & Poors, Feb 2003
Abstract
NEW YORK (Standard & Poor's) Feb. 19, 2003-- Standard & Poor's Ratings Services said today that it placed its ratings, including the 'BBB-' corporate credit rating, on AAR Corp. on CreditWatch with negative implications. The action stems from continued weakness in the airline industry, AAR's primary market. 'The very challenging environment of AAR's airline customers, especially in the U.S., has been adversely affecting the firm's financial results. That environment is likely to deteriorate further if there is a war with Iraq,' said Standard & Poor's credit analyst Roman Szuper. Although cost-reduction initiatives and growing military sales have made positive contributions, the overall performance and key credit protection measures are subpar for the rating. Wood Dale, Ill.-based AAR is a leading...
Companies mentioned in this report are: AAR Corp.
Action: On CreditWatch:Negative
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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