NEW YORK (S&P Global Ratings) Nov. 4, 2026--S&P Global Ratings today assigned its'BB+'issue-level rating and'4'recovery rating to BWX Technologies Inc.'s proposed $500 million senior unsecured notes due 2034. The'4'recovery rating indicates our expectation for average (30%-50%; rounded estimate: 35%) recovery in the event of a default. We expect BWX will use the proceeds from the proposed transaction, along with about $307 million of balance sheet cash, to repay its existing $400 million 4.125% senior unsecured notes due 2028 and $400 million 4.125% senior unsecured notes due 2029 and pay transaction-related fees. Concurrently, the company has extended the maturity of its $1.250 billion revolving credit facility by one year to 2031. All our ratings on
