Fitch upgrades Aeroflot

Fitch Ratings said it upgraded PJSC Aeroflot - Russian Airlines long-term foreign- and local-currency issuer default ratings to BB from BB-.

“The upgrade reflects our reassessment of Aeroflot Group’s standalone credit profile (SCP) to b+ from b, underpinned by the continuing strength of the group’s business and financial profile compared with that of peers including GOL Linhas Aereas Inteligentes SA (B+/Stable) and LATAM Airlines Group SA (BB-/Stable),” said Fitch in a press release.

The outlook is stable.

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