Moody’s Upgrades Northrop Debt Outlook
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From Bloomberg News
Northrop Grumman Corp., the world’s largest builder of naval ships, had the outlook on about $6.8 billion of debt raised by Moody’s Investors Service to positive from stable, while its Baa3 rating was confirmed.
Northrop’s sales, profit and cash flow should improve because of increased defense spending and the Century City-based company’s efforts to reduce debt, Moody’s said.
Northrop’s shares fell 90 cents to $92.55 on the NYSE.
From Bloomberg News
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