Fitch Ratings Doesn't Expect Change in TransDigm Group's (TDG) Rating After Acquisition of AmSafe Global

Fitch Ratings expects TransDigm Group Inc.'s (NYSE: TDG) and its indirect subsidiary TransDigm, Inc.'s (TDI) ratings to remain unchanged following an announced acquisition of AmSafe Global Holdings, Inc. (AmSafe). TDG plans to finance the pending acquisition by a combination of cash and senior secured debt and is expected to close by the end of the first quarter of calendar year 2012. Approximately $3.1 billion of outstanding debt is covered by these ratings.

Fitch expects to review the ratings once the pending deal closes and final details about the acquisition financing are disclosed. Based on Fitch's estimates of TDG's cash position as of Dec. 31, 2011, pro forma EBITDA and pro forma leverage (debt to EBITDA) incorporating estimated new debt as of the end of fiscal 2012, Fitch does not anticipate any rating actions. However, if a negative rating action occurs, Fitch expects that at most it would be a one notch downgrade of the company's senior unsecured obligations.

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