Moody’s alters Hexcel view to negative

Moody’s Investors Service said it affirmed its ratings for Hexcel Corp., including the company’s Baa3 senior unsecured debt rating and changed the outlook to negative from stable.

The negative outlook reflects Hexcel’s significant exposure to commercial aerospace markets and Moody’s expectation that disruptions from the coronavirus pandemic will result in fundamentally lower production rates of wide-body and narrow-body aircraft over the next few years. The lower production rates will result in earnings pressures and weakening credit metrics during 2020 and 2021,” Moody’s said in a press release.

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