S&P affirms Moog

S&P said it affirmed its ratings, including the BB+ issuer credit rating, on Moog Inc. The outlook is stable.

At the same time, S&P affirmed its BB+ issue-level rating on the company's revolving credit facility. The 3 recovery rating is unchanged and reflects expectations of meaningful recovery (50%-70%; rounded estimate: 50%) in a default scenario.

S&P also affirmed its BB issue-level rating on the company's unsecured notes. The 5 recovery rating indicates an expectation of modest recovery (10%-30%; rounded estimate: 15%) in a default scenario.

“The affirmation reflects our expectation that Moog's credit metrics will remain stable over the next year, as the company's revenue, earnings, and cash flow increase, offset by potential debt-financed bolt-on acquisitions,” S&P said in a news release.

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