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BA facing downgrade to junk grade, warns S&P
28 January 2009
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[British Airways]
[Iberia]
[Standard & Poors]
Standard & Poor's has issued a stark warning to British Airways that it faces a credit rating downgrade to "junk" status after it placed the airline's 'BBB-' rating on "credit watch with negative implications".
The move comes after BA said it expects to make a $209 million operating loss for the year and could have implications for its planned merger with Iberia.
"We are telling the market that there's an increased likelihood of a downgrade for the airline," said credit analyst Andreas Kindahl, speaking from his Stockholm office. He said there was a 50%...
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