Southwest Still on Credit Watch Negative

Well, the waiting is over......

"S&P cut its ratings one notch to "A-minus," or the seventh-highest rating, from "A."

But......

"The company's healthy earnings and cash flow, along with close to $500 million of debt reduction since 2003, have resulted in the "strongest financial profile" among U.S. airlines, said S&P, which has a stable outlook for the company."

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Jim