StandardAero, Inc. (NYSE: SARO), a leading independent pure-play provider of aerospace engine aftermarket services including engine maintenance, repair and overhaul (MRO) and engine component repair, announced today that Moody’s Ratings recently upgraded the Company’s ratings based on its consistent positive earnings performance and diversified position across commercial, business aviation and military end markets globally.
Moody’s upgraded StandardAero’s corporate family rating (CFR) to Ba2 from Ba3 and probability of default rating to Ba2-PD from Ba3-PD. Concurrently, it upgraded the Company’s senior secured first lien term loan B1 and senior secured revolving credit facility to Ba2 from Ba3. Moody’s also upgraded StandardAero Limited's senior secured first lien term loan B2 to Ba2 from Ba3.
“Moody’s upgrades underscore the strength of our market position and the durability of demand across our global MRO ecosystem,” said CFO Dan Satterfield. “With tight industry capacity, strong customer demand and our differentiated platform portfolio, we are well positioned to capitalize on long-term growth opportunities while continuing to enhance margins and generate strong cash flow.”
“StandardAero,” this morning’s news release reads, “is a leading independent pure-play provider of aerospace engine aftermarket services for fixed- and rotary-wing aircraft, serving the commercial, military and business aviation end markets.
“StandardAero provides a comprehensive suite of critical, value-added aftermarket solutions, including engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management and engineering solutions.”
SARO shares closed Tuesday trading at $25.28.
