S&P lifts Qantas

Standard & Poor's said it raised its corporate short-term credit rating on Qantas Airways Ltd. to A-2 from A-3, based on the agency's new rating criteria.

The agency said the long-term corporate and issue ratings on Qantas remain unchanged at BBB. The outlook remains negative.

S&P said the new criteria methodology establishes a linkage of short-term and long-term ratings for corporate issuers through the use of the agency's liquidity descriptors. The methodology also clarifies the link between short-term and long-term ratings for sovereigns, the agency said.

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