United Technologies Corp.’s credit ratings are in jeopardy after Moody’s Investors Service cut its outlook to “negative,” citing a reduced reliance on stock to pay for the $16.5 billion acquisition of Goodrich Corp.
Nine of the biggest names in the U.S. defense industry receive more than 70 percent of their revenue from the federal government and have the most to lose in the budget cuts approved by Congress this month, according to data compiled by Bloomberg.
Syncreon Holdings Plc, the Auburn Hills, Michigan-based logistics company, is marketing $300 million of eight-year notes as junk-bond issuers choose to pay higher yields to restrict their debt to sophisticated investors and avoid documentation.
Beazer Homes USA Inc., the Atlanta- based builder, is marketing debt as issuers take advantage of investor demand for the lowest-graded corporate bonds before their increased presence in the market raises default rates.
OnCure Holdings Inc., a manager of radiation oncology treatment centers for cancer patients, is marketing $210 million of notes as analysts boost forecasts on 2010 returns for high-yield, high-risk corporate debt.