BAE Systems: poor defence

Credit of the month


BAE Systems, the UK defence company, appears incapable of capitalising on the possibility for war. In late February, Fitch Ratings downgraded the company’s credit rating to BBB+ from A-, and maintained a negative outlook.

BAE’s problem is that it is working on two large defence contracts for the British government, both of which BAE is receiving a fixed amount for and both of which are over budget.

In a comment announcing the downgrade, Fitch said that “substantial cost overruns and d

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: