Fitch changes Air Canada view to negative

Fitch Ratings said it affirmed the issuer default rating of Air Canada at BB and revised the outlook to negative from stable.

The revision is based on the sharp drop in demand due to the Coronavirus. North American airlines are reporting steep and broad-based declines in passenger numbers since the virus began to appear widely outside of China. Fitch believes Air Canada will return to credit metrics that are supportive of the BB rating by the end of 2021.

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