Fitch gives Huntington Ingall notes BBB-

Fitch Ratings said it assigned BBB- long-term ratings to Huntington Ingalls Industries, Inc.'s new $1 billion issuance of senior unsecured notes. The company's current long-term issuer default rating and long-term senior unsecured notes rating is BBB-. The outlook is stable.

“Fitch believes the new issuance is relatively neutral to HII's credit profile over the intermediate-to-long term, despite the near-term increase in leverage. The company is partially using proceeds to fund its recent acquisition of Hydroid and bolster near-term liquidity, which Fitch views as prudent given the uncertain market environment caused by the the coronavirus pandemic,” said Fitch in a press release.

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