S&P: SAS outlook negative

Standard & Poor's said it revised the outlook on SAS AB to negative from stable, reflecting deteriorating trading conditions and the potential repercussions from a fatal crash in Madrid on Wednesday.

The BB- long-term corporate credit rating was affirmed.

Ratings reflect the group's midsize route network serving competitive markets, the cyclicality of the airline industry and the adverse effect of sharply rising fuel costs on the credit profile, the agency noted.

These factors are offset somewhat by its strong brand and extensive route network in the Nordic region and the Baltic states, S&P said.

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