Moody's affirms TransDigm

Moody's Investors Service said it affirmed the ratings of TransDigm Inc., including the corporate family rating of B1, and has changed the outlook to stable from negative.

The change in outlook was prompted by the recent trend in improved operating results and Moody's expectations for continued growth and improvement in a strong commercial aviation aftermarket environment.

The agency added that the operating results reported over the past year has largely restored credit metrics - leverage and interest coverage in particular - to levels the company enjoyed prior to the November 2005 debt-financed shareholder distribution.

Despite the improvement, the ratings continue to reflect the company's substantial debt levels, high leverage and the potential for the use of additional leverage for equity distributions and uncertainty about the size and funding of potential future acquisitions, Moody's said.

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