Fitch gives Wabtec notes BBB-

Fitch Ratings said it gave a BBB- rating to Westinghouse Air Brake Technologies Corp.’s upcoming sale of $500 million of notes due March 2034.

“The rating is aligned with WAB's long-term issuer default rating (IDR) and the ratings on the company's currently outstanding senior unsecured notes,” the agency said in a press release.

The proceeds, together with cash on hand, including from the expected drawdown under the 2024 credit agreement, will be used to repay all $725 million outstanding 2024 notes at maturity.

The outlook is positive.

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