Ratings nose-dive for BA debt

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The senior unsecured debt of British Airways has been downgraded to junk status. In view of the current environment, analysts have broadly accepted the move, but there remain questions over the comparative treatment of Lufthansa.

The end of November saw Standard & Poor’s drop BA’s senior unsecured debt from BBB- to BB+ (at the same time as downgrading the eight North American carriers it rates). Then on December 6, Moody’s downgraded its rating for BA to Ba1 from Baa3.

Moody’s says its action

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