Russian aircraft manufacturer Irkut may be riding high from the recent test flight of its second MC-21 prototype, but credit raters at Moody’s Investors Service are bringing the company back to Earth with a downgrade of its credit worthiness. Moody’s announced May 24 it downgraded Irkut’s corporate family rating to B1 from Ba3 and the probability of default rating to B1-PD from Ba3-PD. Nonetheless, the credit agency’s outlook for Irkut was changed to stable from ...
