Fitch revises British Airways view to negative

Fitch Ratings said it revised British Airways plc's outlook to negative from stable and affirmed the airline's long-term issuer default rating at BBB-.

“The negative outlook reflects our revised forecast for BA assuming a major halt to operations due to the Covid-19 pandemic with credit metrics estimated to be weak for its BBB- rating until 2022. We estimate liquidity is sufficient to bridge the period of lost revenues, but a recovery delay beyond 2H20 or failure by BA to effectively implement mitigation measures would lead to a downgrade,” said Fitch in a press release.

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