S&P: Vought on positive watch

Standard & Poor's said it placed its ratings on Vought Aircraft Industries Inc., including the B corporate credit rating, on Creditwatch with positive implications.

The action reflects the proposed acquisition of Vought by higher-rated Triumph Group Inc. (BB/watch negative) for $1.44 billion, which includes $525 million in cash, refinancing of Vought's existing debt, and about $460 million of Triumph's stock, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.