Moody’s assigns Baa3 to Hexcel debt

Moody's Investors Service said it assigned a Baa3 rating to Hexcel Corp.’s senior unsecured debt.

The outlook is stable.

The Baa3 rating reflects Hexcel’s low degree of financial leverage, strong credit metrics and leadership position in the manufacturing of lightweight, high performance structural materials, the agency said. Hexcel is one of only a few advanced composite manufacturers that supply materials and parts to commercial aerospace, and has a large and growing content on some of the most popular new aircraft types (B787 and A350) that are still in the early stage of production.

Consequently, Moody’s said it believes Hexcel has above-average industry growth prospects and expects considerable earnings and cash flow growth for some time.

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