Moody's views Allegiant Travel for cut

Moody's Investors Service said it placed the ratings of Allegiant Travel Co., including the Ba3 corporate family rating, on review for downgrade. The speculative grade liquidity rating remains unchanged at SGL-3.

The coronavirus pandemic, the deteriorating global economic outlook, falling oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented, Moody’s said.

Allegiant is vulnerable to shifts in market sentiment in these unprecedented operating conditions and the company remains vulnerable to the outbreak continuing to spread, the agency said.

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