Moody's cuts British Airways

Moody's Investors Service said it lowered to B1 from Ba3 corporate family and probability-of-default ratings of British Airways plc and the senior unsecured and subordinate ratings to B2 and B3, respectively.

The outlook is stable. This concludes the review that began on Nov. 10.

The action reflects the view that credit metrics will not be commensurate with the previous rating category in the medium term, according to the agency.

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