Article

Cubic Corp, supported by Elliott Investment Management and Veritas Capital, will defer an interest payment on its $2.5 billion debt as part of its liquidity management strategy, following a recent balance sheet restructuring. Despite improvements noted by S&P Global Ratings, the company faces ongoing operational challenges, including setbacks in its transportation division and concerns over credit quality, as reflected in the low trading value of some loans. Cubic has secured defense contracts with the US Air Force and Canada's Department of National Defence, but lost a significant fare system management contract in London.