S&P lifts International Consolidated Airlines

S&P said it raised its long-term issuer credit rating on International Consolidated Airlines Group, SA (IAG) and the issue rating on the group's senior unsecured debt to BBB- from BB+.

The outlook is stable.

“The stable outlook reflects our expectation that IAG's adjusted EBITDA will improve to €5.0 billion-€5.5 billion this year, supported by uninterrupted demand for air travel, and remain at least at this level thereafter, translating into a weighted-average adjusted FFO to debt of above 30% over the next two years,” S&P said in a news release.

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