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Moody's: U.S. Airways outlook stable
Moody's Investors Service said it affirmed U.S. Airways Group, Inc.'s Caa1 corporate family and probability-of-default ratings, the B3 rating on its $1.17 billion senior secured first-lien term loan due 2014 and the ratings on the respective rated industrial revenue bonds.
The agency also upgraded the speculative grade liquidity rating to SGL-3 from SGL-4 and changed the outlook to stable from negative.
The upgrade of the speculative grade liquidity rating follows the increase in unrestricted cash notwithstanding that U.S. Airways' traffic growth trailed that of its peers through the first six months of 2010, according to the agency.
The Caa1 corporate family rating considers the company's business profile, which faces ongoing challenges relative to those of its legacy carrier and low cost competitors, the agency said.
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