S&P revises Virgin Australia to stable

S&P said it revised the outlook on Virgin Australia Holdings Ltd. to stable from negative.

At the same time, the agency affirmed the airline’s B+ corporate credit rating, as well as the B- rating and 6 recovery rating on its U.S. 144A/Regulation S senior unsecured notes.

S&P said it revised the outlook to stable to reflect its growing confidence that Virgin has a realistic deleveraging path. Virgin Australia's investment in repositioning itself as a full-service airline is substantially complete, and the agency believes its focus has now turned to cash generation.

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