Marine Link
Wednesday, December 7, 2016

Moody's Ups Newport News

March 10, 2000

Moody's Investors Service upgraded the senior unsecured debt rating of Newport News Shipbuilding, Inc. (NNS) to Ba1 from Ba2 to reflect the company's improving operating and cash flow performance, and its strengthening business outlook and balance sheet, Moody's reported. The ratings also incorporate its still-weak balance sheet, notwithstanding the recent gradual improvements. Positive cash flows have led to reduced debt levels, Moody's said, which together with its expanded equity base (through retained profits), have led to a somewhat stronger, albeit still leveraged balance sheet. The company's outlook has also improved as a result of the resurgence of growth in the U.S. defense spending.


 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News