18.02.10
Standard & Poor's (S&P) have lowered BA's long-term credit rating to BB- from BB. A spokesman for the debt rating agency said: ‘This downgrade reflects our view that the very difficult industry conditions in 2009 have resulted in a significant deterioration in BA's financial profile, and that recovery to a BB rating for BA is unlikely in the near term.'
The ratings agency views a merger with Iberia positively, even though the benefits are likely to take some time to show though. S&P's outlook for BA is 'negative', meaning a further downgrade has not been ruled out.
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