HAIFA, Israel --- Elbit Systems Ltd. announced today that in light of the progress in the acquisition of IMI Systems Ltd., (IMI) by the Company, as announced by the Company on June 19, 2018, the Israeli rating agency Midroog Ltd. places the Series "A" Notes issued by the Company in 2010 and in 2012 under review for down grade (Credit Review).
The Notes are currently rated "Aa1" (on a local scale). The Credit Review will be performed by Midroog following the closing of the acquisition transaction.
The rating will be examined by Midroog taking into consideration, among other things, the transaction structure and financing, the Company's business plan for IMI and the expected time frame for reduction of the Company's debt.
Midroog's official announcement in Hebrew will be submitted by the Company to the Israel Securities Authority and the TASE. An unofficial English translation of Midroog's announcement will be submitted by the Company on Form 6-K to the U.S. Securities and Exchange Commission.
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (C4ISR), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems.