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Four billionaires, led by Elon Musk, kicked off a private-sector space race that’s drawn $17 billion in funding for 140 startups. What's their grand plan?
Shares of Dulles-based Orbital ATK Inc. (OA) have taken off since the beginning of the year, up 7.7 percent as of Friday’s close. Since it first began trading as Orbital ATK, following the February 2015 merger of Orbital Sciences Corp. and Alliant Techsystems Inc., it’s up more than 50 percent. This was going to require the company to revise several earnings reports to reconcile more than $200 million in overstated after-tax income.
Orbital ATK Inc. (OA) hasn’t filed its earnings report for the second quarter due in August and that has one credit analyst worried. On Monday, Moody’s Investors Service Inc. changed $2.5 billion of the Dulles-based contractor’s debt from a “stable” to “negative” outlook — indicating that the company is on watch for a potential downgrade. “The rating will be under pressure and exposed to risk of downgrade — potentially multiple notch — if the financial reporting delay is expected to continue beyond mid-January, or if further liquidity pressures develop,” Moody’s stated.