Fitch affirms US Airways

Fitch Ratings said it affirmed US Airways Group, Inc.'s issuer default rating at CCC, senior secured term loan due 2014 at B+/RR1 and senior unsecured convertible notes at C/RR6.

The outlook is stable.

The ratings reflect the airline's high lease-adjusted leverage, relatively weak though improving liquidity position and volatile cash flow generation in an industry that remains vulnerable to fuel price and demand shocks, the agency said.

The affirmation follows another period of significant turmoil in global energy markets that has driven jet fuel prices higher and introduced more risk into the airline's cash flow and liquidity outlook, the agency added.

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