Bulletin: Westinghouse Air Brake Technologies' Acquisition Of Nordco Will Slightly Increase Its Leverage Over The Short Term - S&P Global Ratings’ Credit Research

Bulletin: Westinghouse Air Brake Technologies' Acquisition Of Nordco Will Slightly Increase Its Leverage Over The Short Term

Bulletin: Westinghouse Air Brake Technologies' Acquisition Of Nordco Will Slightly Increase Its Leverage Over The Short Term - S&P Global Ratings’ Credit Research
Bulletin: Westinghouse Air Brake Technologies' Acquisition Of Nordco Will Slightly Increase Its Leverage Over The Short Term
Published Mar 23, 2021
2 pages (1092 words) — Published Mar 23, 2021
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Abstract:

NEW YORK (S&P Global Ratings) March 23, 2021--S&P Global Ratings today said that Westinghouse Air Brake Technologies Corp. (Wabtec; BBB-/Negative/--) announced it has signed a definitive agreement to acquire Nordco, a provider of highly-engineered equipment, parts, and services to the railroad maintenance-of-way, railcar moving, and rail flaw detection sectors. We expect Wabtec to finance the $400 million purchase with a combination of cash on hand and borrowings from its revolving credit facility. The company expects Nordco to generate full-year sales of $175 million and EBITDA of approximately $40 million. Nordco operates in the North American freight industry, which has been under pressure because of coronavirus pandemic-related headwinds and cyclical factors. Although Wabtec operates in the narrow rail industry, we believe

  
Report Type:

Bulletin

Ticker
WAB
Issuer
Westinghouse Air Brake Technologies Corp.
GICS
Construction & Farm Machinery & Heavy Trucks (20106010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Westinghouse Air Brake Technologies' Acquisition Of Nordco Will Slightly Increase Its Leverage Over The Short Term" Mar 23, 2021. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Westinghouse-Air-Brake-Technologies-Acquisition-Of-Nordco-Will-Slightly-Increase-Its-Leverage-Over-The-Short-Term-2616165>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Westinghouse Air Brake Technologies' Acquisition Of Nordco Will Slightly Increase Its Leverage Over The Short Term Mar 23, 2021. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Westinghouse-Air-Brake-Technologies-Acquisition-Of-Nordco-Will-Slightly-Increase-Its-Leverage-Over-The-Short-Term-2616165>
  
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