Moody's alters WestJet view to positive

Moody's Investors Service said it changed WestJet Airlines Ltd.'s outlook to positive from negative.

"The positive outlook reflects our expectation that WestJet will be able to sustain good liquidity and that continued recovery in domestic air travel demand will strengthens WestJet's operating performance over the next 12-24 months," said Aziz Al Sammarai, a Moody's analyst, in a press release.

The agency said it projects WestJet’s leveraging declining to 5x by the end of 2023.

The agency also affirmed WestJet's B3 corporate family rating, B3-PD probability of default rating, B2 backed senior secured first-lien term loan and B2 backed senior secured first-lien revolving credit facility.

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