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Fitch might lower General Dynamics
Fitch Ratings said it placed General Dynamics Corp.’s long-term and short-term ratings on rating watch negative.
The action follows the company’s announcement of an agreement to acquire CSRA Inc. in a transaction valued at about $9.6 billion, including debt.
On Feb. 12, General Dynamics announced an agreement to acquire CSRA for roughly $9.6 billion including about $2.8 billion of debt at CSRA.
Fitch said it expects General Dynamics will fund the acquisition of CSRA's equity, valued at nearly $6.8 billion, with the issuance of new debt and cash on hand.
The transaction was approved by the board of directors of both companies.
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