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S&P revises Hexcel view to negative
S&P said it affirmed its BBB issuer credit rating on Hexcel Corp. The outlook is now negative.
S&P said it also affirmed the BBB issue-level rating on its $700 million of unsecured debt.
“The negative outlook reflects our expectation that Hexcel's credit metrics will weaken in 2019 due to capital deployment in excess of free cash flow for the ARC acquisition and shareholder returns,” S&P said in a news release.
Hexcel is acquiring ARC Technologies Inc. for $160 million.
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