Elbit Systems Ltd. announced today that S&P Global Ratings Maalot Ltd., an Israeli rating agency (“S&P Global Ratings”), issued its rating report regarding Elbit Systems (the "Rating Report"). In its Rating Report, S&P Global Ratings raised its long term rating to "ilAAA" (on local scaling) with a stable outlook regarding the Company's Series B, C and D Notes, and reaffirmed its short term rating of "ilA-1+" (on local scaling).
In the Rating Report, S&P Global Ratings noted as part of its main rationales, the continued improvement in Elbit Systems' financial ratios and strong operating performance, with a record-high backlog on the backdrop of geopolitical escalation and a sharp increase in defense budgets of countries around the globe.
The Rating Report in Hebrew was submitted by S&P Global Ratings to the Israel Securities Authority and the Tel Aviv Stock Exchange. An unofficial English translation of the Rating Report is submitted by the Company on Form 6-K to the U.S. Securities and Exchange Commission.
This announcement shall not constitute a solicitation or an offer to buy any securities.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems: “S&P Global Ratings' decision to raise our long term rating to "ilAAA", the highest rating on local scaling, reflects the strengthening of our financial profile and succesfull execution of our long-term strategy. We believe this upgrade highlights the positive momentum of our business and supports our ability to continue investing in growth while maintaining disciplined financial management”.