Moody's: Huntington Ingalls unaffected

Moody's Investors Service said Huntington Ingalls Industries, Inc. took a $300 million goodwill impairment, reducing total goodwill by 26%.

The charge, just eight months after the spinoff from Northrop Grumman, is a negative credit development.

But the company's backlog remains steady at $17 billion ($12 billion funded) and the 2011-2013 free cash flow expectation remains within a supportive range for the Ba2 corporate family rating, the agency said.

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