Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Arinc Inc. > News item |
Moody's rates Rockwell Collins notes A3
Moody's Investors Service said it assigned A3 ratings to the proposed $1.1 billion offering of new senior unsecured notes with varying maturities to be issued by Rockwell Collins, Inc.
Net proceeds are expected to be used to partially fund the pending $1.39 billion acquisition of Arinc Inc., which is expected to close shortly.
The outlook is stable.
"Although the company is funding Arinc entirely with debt, management commitments to materially curtail shareholder return initiatives and avoid debt-financed acquisitions in conjunction with a solid free cash flow generating operating profile should allow for meaningful debt repayment and ensuing balance sheet strengthening over the next couple of years," Moody's senior vice president Russell Solomon, lead analyst for the company, said in a news release.
"Moreover, the Arinc assets do look complementary to us relative to Rockwell's existing assets, in particular its hardware and avionics platform and business jet flight information systems."
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.