Moody’s changes Moog view to negative

Moody’s Investors Service said it revised the outlook on Moog Inc. to negative from stable.

"Moog derives about one-third of revenue from end markets that have been severely impacted since the coronavirus outbreak, including industrial equipment and commercial aircraft, for both original equipment and the aftermarket," said Bruce Herskovics, Moody's lead analyst for Moog in a press release.

"Nonetheless, we expect Moog to maintain good liquidity; having suspended the dividend and stock repurchases, lowered operating costs/capital expenditures and likely putting acquisitions on hold," continued Herskovics.

Moody’s affirmed the company’s Ba2 rating and the senior unsecured rating of Ba3.

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