Airline Credit Ratings Lose Altitude
                   
cfo.com     Jul 25, 2008            

Standard & Poor's drops American, United, and Northwest a notch apiece as heavy losses are expected to continue. Standard & Poor's Friday downgraded the debt ratings of three major U.S. airlines, citing expected losses and reduced cash flow caused by high fuel prices. The credit rating agency warned that the negative outlook reflects its concern that a potential continuation of heavy losses could erode liquidity at AMR and its subsidiary American Airlines Inc.; UAL Corp. and its United Airlines Inc.; and Northwest Airlines Corp. and its Northwest Airlines Inc. advertisement The credit ratings of AMR and American were lowered to 'B-' from 'B'. The debt also was removed from CreditWatch, where it had been placed with negative implications on May 22. The outlook is now negative. Standard & Poor's expects AMR this year to report... [read full story]                    


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yahoo.com     25 mins ago   1 related          

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