Moody's Assigns Baa3 Rating to Textron's New Senior Notes
New York, February 27, 2017-- Moody's Investors Service assigned a Baa3 rating to the proposed $350 million issuance of senior unsecured notes due 2027 by Textron Inc. of $350 million. The ratings outlook is positive. "Financial performance has modestly lagged expectations but remains reasonably solid, nonetheless, in the context of both industry peers and a market environment that continues to evidence meaningful contraction in business jets and rotorcraft," said Russell...Textron is a multi-industry company. The company's segments include: Textron Aviation, which manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets; Bell, which supplies military and commercial helicopters, tiltrotor aircraft, and related spare parts and services; Textron Systems, which includes unmanned systems, marine and land systems, and simulation, training and other; Industrial, which designs and manufactures a variety of products within fuel systems and functional components and specialized vehicles product lines; and Finance, which provides financing to purchasers of new and pre-owned Textron Aviation aircraft and Bell helicopters.
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