TheInsider
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Qantas is just one notch away from losing its coveted investment-grade rating after Moody’s downgraded the airline's debt because of high fuel prices, strong competition and a difficult operating environment.
Moody’s today lowered its long-term rating of Qantas from Baa2 to Baa3, and its short-term rating for the company from P-2 to P-3. It said the outlook for Qantas was stable.
Baa3 is one notch above a non-investment grade rating or "junk status".
The downgrade was released after the stock market closed today. Qantas fell 2 cents to close at $1.575.
Qantas sought to reassure investors that its financial position remained strong despite the downgrade.
More here: Qantas hit by Moody's downgrade
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