|Bid||6.75 x 900|
|Ask||6.73 x 900|
|Day's Range||6.53 - 7.04|
|52 Week Range||3.02 - 29.38|
|Beta (5Y Monthly)||2.73|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 04, 2020|
|Forward Dividend & Yield||0.16 (2.40%)|
|Ex-Dividend Date||Feb 28, 2020|
|1y Target Est||8.90|
Triumph Group (TGI) delivered earnings and revenue surprises of -11.76% and 6.97%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
Moody's Investors Service ("Moody's") downgraded its ratings for Triumph Group, Inc. ("Triumph"), including the company's corporate family rating (CFR, to Caa3 from Caa2) and probability of default rating (to Caa3-PD from Caa2-PD). Concurrently, Moody's downgraded its ratings for the company's senior secured second lien notes (to Caa2 from Caa1) and senior unsecured notes (to Ca from Caa3).
Triumph Group, Inc. (NYSE: TGI) ("Triumph" or the "Company") today announced that it intends to offer $600.0 million aggregate principal amount of senior secured first lien notes due 2024 (the "Notes," and such offering, the "Notes Offering"). The Notes will be guaranteed (the "Guarantees") by the same subsidiaries (the "Guarantors") that guaranty certain of Triumph's other indebtedness, including its (i) 5.250% Senior Notes due 2022, (ii) 6.250% Senior Secured Notes due 2024 (the "2024 Notes"), and (iii) 7.750% Senior Notes due 2025. The Notes and the Guarantees will be secured, subject to permitted liens, by first-priority liens on substantially all of the Company's and the Guarantors' assets. The collateral also secures the 2024 Notes on a second lien basis.