S&P puts Alaska Air on watch

Standard & Poor’s said it placed its BBB- corporate credit rating on Alaska Air Group Inc. and its BBB- corporate credit rating on the company’s major operating subsidiary, Alaska Airlines Inc., on CreditWatch with negative implications.

“The CreditWatch negative placement follows Alaska Air’s announcement that it has agreed to acquire Virgin America Inc., the parent of airline Virgin America, for approximately $4 billion,” said S&P credit analyst Betsy Snyder in a news release.

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