S&P puts Airbus on watch

S&P said it placed its A+/A-1+ long- and short-term ratings on Airbus SE on CreditWatch with negative implications.

In its response to reduced aircraft deliveries after the Covid-19 pandemic, Airbus announced on March 23 that it has increased its liquidity to €30 billion by extending the group's available credit lines.

Airbus also announced the withdrawal of its 2019 dividend proposal along with its earnings guidance for 2020 and stopped funding its voluntary pension scheme to safeguard its balance sheet.

“We will resolve the CreditWatch once we have more clarity on when Airbus can resume aircraft deliveries in meaningful volumes, and how the market situation will affect its liquidity and financial position,” S&P said in a news release.

© 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.