S&P revises Moog view to negative

S&P said it revised the outlook for Moog Inc. to negative from stable and affirmed all its ratings for the company, including the BB+ issuer rating.

“The negative outlook reflects that, while we expect Moog's credit metrics to remain appropriate for the current rating, the effects of the coronavirus pandemic could be more severe than we expect and weaken its earnings and cash flow,” S&P said in a press release.

The agency forecasts Moog’s funds from operations to debt to be in the 21%-25% range for fiscal years 2020 and 2021.

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