BoeingBoy
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Reuters
S&P cuts US Airways debt ratings
Wednesday May 5, 12:30 pm ET
NEW YORK, May 5 (Reuters) - Standard & Poor's on Wednesday downgraded its ratings on US Airways Group Inc. (NasdaqNM:UAIR - News), citing increased competition from low-fare competitors.
The ratings agency cut its corporate credit rating on the company to 'CCC+' from 'B-'. The No. 7 U.S. airline's ratings outlook is negative, S&P said.
"The downgrade was based on the difficult challenge faced by US Airways as it seeks to rapidly lower its operating expenses in response to mounting pressure from low-cost competitors," said S&P analyst Philip Baggaley in a statement.
Jim
S&P cuts US Airways debt ratings
Wednesday May 5, 12:30 pm ET
NEW YORK, May 5 (Reuters) - Standard & Poor's on Wednesday downgraded its ratings on US Airways Group Inc. (NasdaqNM:UAIR - News), citing increased competition from low-fare competitors.
The ratings agency cut its corporate credit rating on the company to 'CCC+' from 'B-'. The No. 7 U.S. airline's ratings outlook is negative, S&P said.
"The downgrade was based on the difficult challenge faced by US Airways as it seeks to rapidly lower its operating expenses in response to mounting pressure from low-cost competitors," said S&P analyst Philip Baggaley in a statement.
Jim