Fitch ups Western Global notes

Fitch Ratings said it raised its ratings for Western Global Airlines Inc.’s senior unsecured notes to BB-/RR3 from B+/RR4 but revised the outlook to negative from stable.

The higher rating reflects improved recovery prospects following an adjustment to Fitch's going-concern EBITDA estimate, the agency said.

“The negative outlook reflects the tighter financial flexibility in 2022 that if persists could lead to higher liquidity and refinancing risks. WGA's revolver was fully drawn at Q3 and the company had $27 million of cash on the balance sheet,” Fitch said in a press 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.