Moody's ups SAS outlook to stable

Moody's Investors Service said it affirmed SAS AB's ratings and changed the outlook to stable from negative following the recent improvement in operating performance of SAS and the company's announcement that it plans to sell the remaining 75% stake it owns in Rezidor by the end of the year.

The ratings of SAS (B1 corporate family rating, B2 senior unsecured, B3 subordinated) reflect the application of Moody's rating methodology for government-related issuers.

Moody's acknowledged that SAS's BCA has enjoyed a gradual strengthening, reflecting the company's improved operating performance, driven by positive traffic and yield development, higher load factors, the introduction of a new business model and the positive impact on its cost structure of the successfully executed restructuring program.

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