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AAR Corp. Oct 05
Standard & Poors, Oct 2005
Abstract
Largest independent provider of aviation support services; and Moderately leveraged capital structure. AAR's primary market, the airline industry, is highly cyclical; Competitive operating environment; and Modest profitability. The ratings on Wood Dale, Ill.-based AAR Corp. reflect the risks associated with highly cyclical and competitive conditions in the airline industry, the firm's primary market, and modest profitability. Those factors are offset in part by the company's established business position and moderately leveraged balance sheet. The Sept. 11, 2001, events and other shocks to the aviation system led to a severe downturn in the airline sector, especially in the U.S. That caused a significant decline in AAR's business and resulted in weak financial performance in recent years. Extensive cost reductions, strength in...
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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