Elbit Systems Announces S&P Global Ratings Maalot Reaffirming Rating of "ilAA" (Local Scale), With a Stable Outlook, for Elbit Systems Series B, C and D Notes

Rhea-AI Summary

Elbit Systems announced that S&P Global Ratings Maalot reaffirmed the rating of the Series B, C, and D Notes with a stable outlook.

Positive

• The reaffirmed rating of the Notes by S&P Global Ratings Maalot provides stability and confidence for investors.

Negative

• No negative takes were identified.

HAIFA, Israel, June 12, 2023 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that S&P Global Ratings Maalot Ltd., an Israeli rating agency ("Maalot"), issued its rating report regarding the Series B, C and D Notes, issued by the Company in 2021 (the "Notes") and reaffirmed the Notes' "ilAA" (on local scaling) rating with a stable outlook.

Maalot's official rating report in Hebrew, was submitted by Maalot to the Israel Securities Authority and the Tel Aviv Stock Exchange. An unofficial English translation of Maalot's rating report will be 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.

About Elbit Systems

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, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.

Company Contact:   
Dr. Yaacov (Kobi) Kagan, ExecutiveVP - CFO
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com

Rami Myerson, Director, Investor Relations
Tel: +972-77-2948984
rami.myerson@elbitsystems.com

Dalia Bodinger, VP, Communication & Brand
Tel: 972-77-2947602
dalia.bodinger@elbitsystems.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

Logo: https://mma.prnewswire.com/media/2017806/Elbit_Systems_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/elbit-systems-announces-sp-global-ratings-maalot-reaffirming-rating-of-ilaa-local-scale-with-a-stable-outlook-for-elbit-systems-series-b-c-and-d-notes-301847988.html

SOURCE Elbit Systems Ltd.

FAQ

What is the rating of the Series B, C, and D Notes issued by Elbit Systems?

The rating of the Series B, C, and D Notes issued by Elbit Systems has been reaffirmed as 'ilAA' with a stable outlook.

Who issued the rating report for the Notes?

The rating report for the Notes was issued by S&P Global Ratings Maalot, an Israeli rating agency.

What is the significance of the reaffirmed rating for investors?

The reaffirmed rating provides stability and confidence for investors in the Series B, C, and D Notes issued by Elbit Systems.