Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers U > Headlines for US Airways Group, Inc. > News item |
S&P puts US Airways on negative watch
Standard & Poor's said it assigned its B- corporate credit rating to US Airways Group Inc. and operating subsidiary US Airways Inc. following the company's Sept. 27 merger with America West Holdings Corp. (B-/Watch negative/--).
Both ratings were placed on CreditWatch with negative implications, pending completion of America West's CreditWatch review. The CreditWatch status of US Airways Inc.'s noninsured enhanced equipment trust certificates is revised to positive from developing.
Ratings on America West Holdings Corp., and operating subsidiary America West Airlines Inc., including the B- corporate credit ratings on both entities, remain on CreditWatch with negative implications, where they were placed on May 20.
S&P said America West Holdings completed its merger with US Airways Group on Sept. 27 subsequent to US Airways' emergence from Chapter 11 bankruptcy protection earlier that day.
The combined entity will face significant hurdles, particularly integration of its labor forces. However, the company will benefit from stronger liquidity following new equity investments and loans, and a more extensive route network, the agency said.
© 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.