Fitch revises Aeroflot view to negative

Fitch Ratings said it revised the Outlook on PJSC Aeroflot - Russian Airlines' long-term issuer default rating to negative from stable and affirmed the IDR at BB.

“The negative outlook reflects our updated assumptions, reflecting the impact of the Covid-19 disruption on Aeroflot's operations. We expect the company's credit metrics to deteriorate substantially in 2020, which is consistent with a similar or more pronounced deterioration for other airlines. Harsher traveling restrictions and reduced air passenger confidence for a protracted period coupled with the company's failure to effectively implement mitigation measures would lead to a downgrade,” Fitch said in a press release.

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