S&P Global Ratings Elevates Elbit Systems to Top 'ilAAA' Local Credit Rating
ESLT has more than doubled off its 52-week low of $369.6.
Summary
S&P Global Ratings Maalot has raised Elbit Systems' long-term local scale rating to "ilAAA," the highest possible rating, with a stable outlook, while reaffirming its short-term rating. This upgrade reflects the company's continued improvement in financial ratios and strong operating performance, supported by a record-high backlog. The positive momentum is attributed to geopolitical escalation and a sharp increase in global defense budgets, reinforcing the company's robust financial health. This follows recent positive news, including a $212 million delivery order from the U.S. Army on May 12th, further solidifying its market position. The upgrade signals lower risk and potentially improved access to capital at more favorable terms, which is material for a company of this size.
At the time of this announcement, ESLT was trading at $775.95 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $36.1B. The 52-week trading range was $369.60 to $1,016.06. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.