AAR Corp. recently completed the sale of Telair Cargo Group for $725 million and plans to use the proceeds to pay off most of its outstanding debt, including the $325 million 7.25% notes originally due Jan. 15, 2022, more than offsetting the lost earnings and resulting in improved credit metrics. We are raising our corporate credit rating on AAR to 'BB+' from 'BB' and removing it from CreditWatch, where we placed it with positive implications on Feb. 24, 2015. The stable outlook reflects our belief that credit measures will likely moderate from very strong levels immediately following the debt paydown because of potential share repurchases and acquisitions, but will remain appropriate for an "intermediate" financial risk profile over the next
