Moody's affirms Vought

Moody's Investors Service said it affirmed Vought Aircraft Industries, Inc.'s B2 corporate family and probability of default ratings and upgraded the company's senior secured bank credit facility rating to Ba2 from Ba3 as well as the company's senior unsecured notes rating to B3 from Caa1.

The outlook is stable.

The rating action follows the announcement that Vought completed the sale of the assets and operations conducted at its North Charleston, South Carolina facility to a subsidiary of the Boeing Co., the agency said.

The facility performs fabrication and assembly of structures and systems installation of the 787 aft-fuselage sections, Moody's added. Simultaneously, the company obtained an amendment to its credit facility to allow for the sale and subsequent debt paydown from the proceeds of the transaction.

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