S&P rates Aernnova B+

S&P said it changed the outlook for Aernnova Aerospace Corp. SA to negative from stable and assigned B+ ratings to the company and its €490 million term loan B. The loan’s recovery rating is 3. S&P assigned preliminary ratings on Jan. 20.

“The negative outlook reflects the fact that due to the global suspension of international and regional travel, and the likely impact it will have on the delivery and production rates of Aernnova's main customer Airbus, we see a risk that Aernnova may not maintain its credit metrics over our 12-month rating horizon,” said S&P in a press release.

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