Fitch upgrades British Airways

Fitch Ratings said it upgraded British Airways plc's long-term issuer default rating to BBB- from BB+.

The outlook is stable.

The upgrade is supported by the company's strong credit metrics and adherence to prudent financial policy, including cost control, Fitch said.

The ratings also reflect the company's extensively diversified route network, strong hub position at Heathrow and strong position on the cash flow-generative routes to the United States, the agency said.

The upgrade was due to an expectation that the company will report a strong financial performance over the medium term, despite political and economic uncertainty and the implementation of a disciplined financial policy, Fitch said.

The ratings also consider the economic uncertainty of the U.K. Brexit referendum, the agency said.

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