Moody's rates IAG Baa3

Moody's Investors Service said it assigned a first-time Baa3 long-term issuer rating to International Airlines Group (IAG).

The outlook is stable.

The rating reflects the company's highly diverse and extensive global route network with strong market positions, Moody's said.

The company's integrated operating model, conservative financial policy and financial accountability underpins the company's strong improvement in profitability and credit metrics, the agency said.

But, industry headwinds going into 2019 are growing, driven by increasing fuel costs and potentially continuing yield pressures, Moody's said.

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