Moody's lifts All Nippon Airways from junk

Moody's Investors Service said it upgraded to Baa3 from Ba1 the senior unsecured debt ratings of All Nippon Airways Co., Ltd. The action concludes a review initiated in April.

The outlook is stable.

The upgrade reflects Moody's view that the company's stable profitability and strong financial profile will continue to strengthen the company's cash flow generation through timely capital expenditure on aircraft fleet reorganization.

Strong profit growth has been achieved by the company's constantly growing revenues, realized mainly by increased unit prices, the agency said. It also is a result of solid cost structure thanks to the introduction of cost-efficient new aircraft, rationalization of aircraft fleet management and reduction of operational costs, Moody's added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.