S&P ups Global Aviation view to positive

Standard & Poor's said it affirmed its B corporate credit rating on Global Aviation Holdings Inc. and revised the outlook to positive from stable.

The agency said it characterized Global Aviation's business risk profile as weak and its financial risk profile as highly leveraged, reflecting the company's participation in the cyclical, competitive and capital-intensive heavy airfreight business and highly leveraged capital structure, S&P said.

Offsetting these factors to some extent is the company's improving financial performance and the generally favorable near-term industry outlook, the agency said.

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