Amentum Holdings LLC announced it will merge with Jacobs Solutions Inc.'s Critical Mission Solutions (CMS) and Cyber&Intelligence (C&I) businesses and operate as a publicly traded company. The proposed all-stock transaction will increase Amentum's scale and could improve leverage in line with a higher rating. Therefore, we revised the outlook to positive from negative. The positive outlook reflects the potential for a higher rating if we view the combined businesses as meaningfully improved or leverage drops below 5x post close. We believe the proposed merger will enhance the scale and diversification for Amentum. Jacobs CMS and C&I add $5.5 billion (as of fiscal year-end) to Amentum's year-end revenue of $7.8 billion. We expect Jacobs CMS and C&I will provide
