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Fitch upgrades British Airways to 'BBB-'

16 March 2017 08:42

Fitch Ratings has upgraded British Airways Plc's long-term issuer default rating to 'BBB-' from 'BB+' with a stable outlook.

Fitch said the upgrade was supported by BA's strong credit metrics and adherence to prudent financial policy including cost control.

It said the rating also reflected the company's extensively diversified route network, strong hub position at Heathrow and strong position on the cash flow-generative routes to the US.

BA is part of International Consolidated Airlines Group but is rated on a standalone basis.

Fitch said this reflected IAG's principle of the standalone management of its operating entities.

At 8:42am: (LON:IAG) International Consolidated Airlines Group share price was +3.25p at 564.75p

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