S&P revises Moog to negative

S&P said it revised its outlook on Moog Inc. to negative from stable and affirmed all of its ratings on the company.

"The outlook revision reflects that the company's credit metrics are currently weaker than we consider appropriate for the rating, including a funds from operations (FFO)-to-debt ratio of more than 25%," S&P credit analyst Tennille Lopez said in a news release.

"The revision also reflects the risk that Moog's credit metrics may not improve as we expect or that they may deteriorate further due to weak demand in certain markets, operational challenges, or – less likely – a higher-than-expected level of share repurchases or acquisitions."

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