Moody's affirms EADS

Moody's Investors Service said European Aeronautic Defence & Space Co.'s (EADS) announced expense from aircraft delivery delays does not affect its A1 senior unsecured rating.

The agency said that although it views the baseline credit assessment as vulnerable to downward adjustment, particularly if EADS exposes further delays on any key programs, the outlook for the A1 rating remains stable in light of the strong government support.

Also, "Moody's notes that EADS is not generating the level of profitability that would be expected during the cyclically strong conditions in the civil aviation market," Bob Jankowitz of Moody's said in a written statement.

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