Fitch: BAE Systems bonds BBB+

Fitch Ratings said it assigned BAE Systems plc £400 million 10-year bond a BBB+ senior unsecured rating. The agency said the rating is in line with BAE's BBB+ long-term issuer default rating.

Fitch said BAE's ratings reflect the company's leading market positions in the global defense industry, its good access to the large U.S. defense market, its prime contracting capability and its large order book.

The agency said the stable outlook reflects Fitch's expectation that the company is likely to maintain its key credit metrics broadly in line with the BBB+ rating category in the medium term.

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