Fitch Ratings says that Rolls-Royce Holdings plc’s (A/Negative) 2015 results and 2016 outlook statement were broadly in line with the agency’s expectations and have no immediate effect on the rating. However, the results highlight the continued weak financial profile into 2016, which underpins the Negative Outlook on the Long-term Issuer Default Rating. In 2016, the company is again expected to generate negative free cash flow as a consequence of the already heralded lower profitability stemming from deterioration in the maintenance and spare parts markets relating to the existing fleet of large aerospace engines, weak demand for corporate and business jet
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