S&P Places BE Aerospace (BEAV) on CreditWatch Developing
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Go back to S&P Places BE Aerospace (BEAV) on CreditWatch Developing
June 12, 2014 6:42 AM EDT
Moody's Investors Service has affirmed the debt ratings of B/E Aerospace, Inc. (Nasdaq: BEAV), including the Ba1 corporate family and Ba2 senior unsecured ratings, but changed the rating outlook to negative from stable.
Ratings/Outlook changed:
Rating Outlook, to Negative from Stable
Ratings affirmed:
Corporate Family Rating, Ba1
Probability of Default Rating, Ba1-PD
$950 million senior secured revolver due 2017, Baa2, LGD2, 12%
$650 million senior unsecured notes due 2020, Ba2, LGD4, to 67% from 64%
$1,300 million senior unsecured notes due 2022, Ba2, LGD4, to 67% from 64%
Speculative Grade Liquidity Rating,... More
June 10, 2014 6:03 AM EDT
BE Aerospace (NASDAQ: BEAV) announced that the Companys Board of Directors has commenced a process to separate its industry-leading businesses into two independent, publicly traded companies one focused on aircraft cabin interior equipment design, development, manufacturing, certification and direct sales on a global basis (Manufacturing Co.), and the other focused on distribution, logistics and technical services for the aerospace and energy services markets (Services Co.).
The Company said that todays separation announcement represents an important step in its ongoing strategic review process, noting that the... More
