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Fitch ratings NewsFitch Downgrades Southwest Airlines to 'BBB'; Outlook Negative
Fitch Ratings has downgraded the debt ratings of Southwest Airlines Co. (NYSE: LUV) as follows: Issuer Default Rating (IDR) to 'BBB' from 'BBB+'; Senior Unsecured Debt to 'BBB' from 'BBB+'; Unsecured Bank Credit Facility to 'BBB' from 'BBB+'; Secured Term Loan Due 2020 to 'BBB+' from 'A-'. Philadelphia's USD45.595MM 2009 airport revenue bonds receive 'A' rating by Fitch
Fitch Ratings assigns (16-Mar-09) an 'A' underlying rating to the City of Philadelphia, Pennsylvania's airport revenue refunding bonds series 2009A (Non-AMT). The series 2009A fixed rate bonds will refund all of the Philadelphia Division of Aviation's (the Division) 2005B variable rate demand obligation bonds and have a final maturity of 2029, extending the maturity date by nine years. |
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