...StandardAero Inc.'s (SARO; BB/Positive) rating and Positive Outlook reflect its leading position within the engine and component repair services markets, with diversified exposure to commercial, military and helicopter and business aviation end markets. SARO also benefits from longstanding relationships across a broad range of original equipment manufacturer (OEM), airline and defense customers and engine platforms, particularly the LEAP and CFM56. Management has invested in expanding capacity and building out engine maintenance capabilities to meet aerospace engine demand growth and capture engine platform share. Fitch Ratings recognizes that operational and performance execution risks remain to realize expected growth. Fitch could upgrade the rating if the company meets growth expectations by increasing CFM56 shop visits and maintenance share and de-risking initial LEAP operational performance and cost risks, while establishing a financial policy and merger and acquisition (M&A) track...
