Moody's reviews International Consolidated for trim

Moody's Investors Service said it placed all the ratings of International Consolidated Airlines Group, SA on review for downgrade. The company's ratings comprise its Baa3 long-term issuer rating and the Baa3 ratings on its €1 billion senior unsecured notes, divided into €500 million of series A bonds due 2023 and €500 million of

The rapid and widening spread of the coronavirus outbreak, 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 agency said.

The combined effects of these developments are unprecedented. The passenger airline sector has been one of the sectors most significantly hurt by the shock given its exposure to travel restrictions and sensitivity to consumer demand and sentiment.

© 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.