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Airline Ratings Placed on CreditWatch Negative After Terrorist Attacks in the U.S. Sep 01
Standard & Poors, Sep 2001
Abstract
LONDON (Standard & Poor's) Sept. 13, 2001--Following the recent terrorist attacks on New York City and Washington DC using hijacked passenger jets, Standard & Poor's today placed its long-term corporate credit ratings on all U.S. airlines and their related entities on CreditWatch with negative implications. At the same time, the corporate credit ratings on Air Canada and U.K.-based carrier British Airways PLC were also placed on CreditWatch with negative implications, due to these companies' substantial dependence on traffic between their respective domestic locations and the U.S. (See list below for all ratings affected.) At present, the CreditWatch placement is limited to the issuers' long-term corporate credit ratings: ratings assigned to all securities issues on these airlines will be subject to...
Action: Downgraded, On CreditWatch Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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