HAIFA, Israel, April 30, 2019 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that the Israeli rating agency, Midroog Ltd. ("Midroog"), issued a special report issuer comment (the "Issuer Comment"), that the anticipated completion of the transaction underlying the signing of an agreement by the Company's U.S. subsidiary, Elbit Systems of America, to acquire Harris Corporation's Night Vision Business, as announced by the Company on April 5, 2019, (the "Acquisition"), is expected to moderately slow the Company's coverage ratios, due to debt reducing steps taken by the Company including a recent share offering, as announced by the Company on April 9, 2019.

The Series "A" Notes issued by the Company in 2010 and in 2012 (the "Notes"), are currently rated "Aa1" (on a local scale), with negative outlook.

Midroog will continue to examine during a period following the closing of the Acquisition, the impact of the Acquisition on the Company's cash flow and financial results, as well as the Company's overall financial leverage, as a result of the Acquisition as well as the acquisition of IMI Systems, with a reasonable possibility that the Company will recover its coverage ratios in the medium term. 

Midroog's official Issuer Comment in Hebrew, will be submitted to the Israel Securities Authority and the TASE. An unofficial English translation of Midroog's Issuer Comment will be submitted by the Company on Form 6-K to the U.S. Securities and Exchange Commission.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any Notes.

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SOURCE Elbit Systems Ltd