Moody’s gives Huntington Ingalls notes Ba2

Moody's Investors Service said it assigned a Ba2 rating to Huntington Ingalls Industries, Inc.'s planned $600 million senior unsecured notes due 2025 and affirmed all other ratings, including the Ba1 corporate family rating.

The speculative grade liquidity rating was raised to SGL-1 from SGL-2.

The outlook is stable.

Moody’s said Huntington’s credit metrics compare favorably to other companies also at the Ba1 rating level and Huntington has developed a strong business profile, characteristics which could lead to a higher rating.

However, as the performance goals set following the 2011 spin-off from Northrop Grumman Corp. have been largely achieved (completing unprofitable, fixed price amphibious assault ship projects and expanding reported operating margin to 9% by 2015), the company is now entering a more mature stage as an independent company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.