Fitch maintains Northrop Grumman at BBB+

Fitch said the ratings of Northrop Grumman Corp. are not affected by the company's announcement that it has increased the estimated cost impact of hurricanes Katrina and Rita on its ships systems segment.

Fitch said ratings are not affected because of Northrop Grumman's financial flexibility and the nature of the costs. But, Fitch said further increases in cost estimates could lead to a review of the rating outlook. Northrop Grumman's senior unsecured debt is currently rated BBB+, bank facility BBB+ and convertible preferred stock BBB.

The outlook is stable.

© 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.