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BAE Systems' $1.5 Billion Notes Rated 'BBB'; Other Ratings Affirmed, Outlook Still Negative

Published Jul 20, 2005

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Abstract:

NEW YORK (Standard&Poor's) July 20, 2005--Standard&Poor's Ratings Services today assigned its 'BBB' rating to $1.5 billion of notes to be issued in three tranches by BAE Systems Holdings Inc., guaranteed by BAE Systems PLC. At the same time, Standard&Poor's affirmed its ratings, including the 'BBB/A-3' corporate credit ratings, on Farnborough, U.K.-based BAE Systems PLC. The outlook is negative. About £3 billion of debt is outstanding. The three tranches are expected to be of similar size in three, five, and 10-year maturities. The proceeds will be used to repay drawings on the firm's $3 billion acquisition credit facility that were used to partially finance the recently completed acquisition of U.S.-based United Defense Industries Inc. The

Report Type:

Ratings Action

Ticker

BA/@LN

Issuer

BAE Systems PLC

GICS

Aerospace & Defense (20101010)

Sector

Global Issuers, Public Finance, Structured Finance

Country

United Kingdom

Region

United States

Format:

HTML

Summary: BAE Systems PLC – 2005/09/09 – US$ 225.00

Summary: BAE Systems PLC – 2005/12/05 – US$ 225.00

Summary: BAE Systems PLC – 2006/03/03 – US$ 225.00

BULLETIN: BAE Systems Ratings Unaffected By Announced Discussions To Sell Airbus Stake To EADS – 2006/04/10 – Free

BAE Systems Outlook To Stable From Neg; Short-Term CCR Raised To 'A-2', Long-Term Affirmed – 2006/04/24 – US$ 150.00

Research Update: BAE Systems' $1.5 Billion Notes Rated 'BBB'; Other Ratings Affirmed, Outlook Still Negative – 2005/07/20 – US$ 225.00

BAE Systems L-T Rating Affirmed, S-T Rating Lowered, Off Watch; Outlook Negative – 2005/06/27 – US$ 150.00

Research Update: BAE Systems Long-Term Rating Affirmed, S-T Rating Lowered, Off Watch; Outlook Negative – 2005/06/27 – US$ 225.00

BAE Systems Remains On Watch Neg; Future Ratings Indicated – 2005/04/14 – US$ 150.00

Research Update: BAE Systems Remains On Watch Neg; Future Ratings Indicated – 2005/04/14 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "BAE Systems' $1.5 Billion Notes Rated 'BBB'; Other Ratings Affirmed, Outlook Still Negative" Jul 20, 2005. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/BAE-Systems-1-5-Billion-Notes-Rated-BBB-Other-Ratings-Affirmed-Outlook-Still-Negative-452526>

APA:	S&P Global Ratings’ Credit Research. (). BAE Systems' $1.5 Billion Notes Rated 'BBB'; Other Ratings Affirmed, Outlook Still Negative Jul 20, 2005. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/BAE-Systems-1-5-Billion-Notes-Rated-BBB-Other-Ratings-Affirmed-Outlook-Still-Negative-452526>

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