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AMH |
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Secretary of Defense William Cohen approved the merger of the
Aviation Structural Mechanic (Structures), AMS, and the Aviation
Structural Mechanic (Hydraulics), AMH, ratings, effective 1 March 2001. Funding for the redemption will come from the settlement of the
forward purchase contracts forming a portion of the company's
Income PRIDES (NYSE: AMH PrA) which matured on August 16, 2006 as well
as other equity issuances occurring in the six month period prior to
redemption. The rating action reflects that upon the closing of the
transaction, AMH will become part of a higher rated entity (IDR rated
'A+') with substantial resources and financial flexibility. |
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