Huntington Ingalls Industries Inc.
Huntington Ingalls Industries, Inc. Increases Credit Facility by $200 Million
Summary
On September 17, 2024, Huntington Ingalls Industries, Inc. (HII) entered into a Second Amended and Restated Credit Agreement, which increased the capacity of its existing revolving credit facility from $1.5 billion to $1.7 billion and extended the maturity date to September 17, 2029. The agreement features a variable interest rate based on the Secured Overnight Financing Rate (SOFR) plus a credit spread adjustment and a commitment fee on unutilized amounts.
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About Huntington Ingalls Industries Inc.
Huntington Ingalls Industries Inc. operates as a comprehensive shipbuilding company specializing in designing, building, and maintaining nuclear and non-nuclear ships globally. As America's largest military shipbuilding firm, Huntington Ingalls plays a critical role in the defense industry by constructing and maintaining a considerable portion of the U.S. Navy and Coast Guard's fleet. Established in 2011 and headquartered in Newport News, Virginia, the company extends its expertise to complex logistics, design, engineering, and construction of naval vessels such as aircraft carriers, submarines, and amphibious assault ships. Huntington Ingalls' influence is notable across defense, national security, and marine engineering sectors. The company also diversifies with its technical solutions segment, offering wide-ranging services including unmanned systems, nuclear support, and oil and gas engineering. This diversification solidifies its position within both defense and broader industrial realms, ensuring resilience in fluctuating economic conditions and technological advancements.
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