Moody's eyes Swissport for downgrade

Moody's Investors Service said it placed on review for downgrade all ratings of Swissport Group Sarl, Swissport Investments SA, Swissport Financing Sarl and Swissport International AG, including its the B3 corporate family rating and B3-PD probability of default rating. The outlook has been changed to ratings under review from stable.

The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented, the agency said.

Passenger airlines have been most significantly affected by the shock given their exposure to travel restrictions and sensitivity to consumer demand and sentiment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.