S&P puts General Dynamics on watch

S&P said it affirmed its ratings for General Dynamics Corp. and placed them on CreditWatch with negative implications.

“Gulfstream business jets and related aftermarket services account for about 25% of General Dynamics Corp.'s sales. The chilling effect of the coronavirus on air travel and the global economy will likely lead to order deferrals and cancellations as the crisis continues. It will also likely reduce the company's aftermarket revenue due to lower aircraft utilization,” said S&P in a press release.

The agency sees resolving the CreditWatch when it has more information about the effect of the coronavirus on the company.

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