Moody’s confirms Orbital ATK

Moody's Investors Service said it confirmed the Ba3 senior unsecured note ratings of Orbital ATK, Inc. (OA) following the acquisition of the company by Northrop Grumman.

The outlook is stable. This concludes the review for upgrade that began on Sept. 18, 2017.

“The rating reflects OA's considerable backlog growth and an ambitious product development pace since the company was formed through the 2015 combination of Orbital Sciences with Alliant Techsystems,” Moody’s said in a news release.

“While competition has risen within some of OA's markets, higher US defense spending and greater strategic focus on space programs combined with OA's innovation and productivity should position the company to be a solid contributor of cash flow to Northrop Grumman.”

Orbital ATK has been renamed Northrop Grumman Innovation Systems.

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