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S&P elevates Air Canada
S&P said it raised its issuer credit rating on Air Canada by one notch to BB from BB-.
At the same time, S&P raised the issue-level rating on the company’s secured debt by one notch to BBB- from BB+, stemming from the upgrade on Air Canada.
The agency also raised its issue-level ratings on many of Air Canada's enhanced equipment trust certificates (EETCs) reflecting the upgrade on the company.
The outlook is stable.
“Ongoing debt reduction through 2024 facilitated by strong discretionary cash flow generation combined with a more favorable outlook for travel demand, contribute to Air Canada’s credit measures that are trending better than we previously expected,” S&P said in a news release.
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