The Company has had a long-term relationship with Moody's under which it has paid to have Moody's provide a corporate family rating but has not engaged Moody's to rate any outstanding securities issued by the Company. Recently, Moody's informed the Company that it had changed policies and was no longer willing to provide a corporate family rating unless the Company also engaged it to rate a specific security issuance. Since the Company did not have a need for this additional and more expensive service it chose to suspend its relationship with Moody's.
Standard & Poor's Ratings Services continues to provide a corporate credit rating on the Company of BB with a stable outlook.
AAR is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems; and Aircraft Sales and Leasing. More information can be found at www.aarcorp.com.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled "Risk Factors", included in the Company's
SOURCE AAR CORP.