JetBlue upgraded by Moody’s

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By TESTCustomwebLP TESTCustomwebLP April 17, 2014 10:02

JetBlue upgraded by Moody’s

Moody’s has raised its ratings assigned to JetBlue Airways to B2 from B3, Probability of Default to B2-PD from B3-PD and Speculative Grade Liquidity to SGL-2 from SGL-3. Moody’s also upgraded the senior unsecured rating to Caa1 from Caa2 and the rating assigned to the G1 and G2 tranches of the company’s Series 2004-2 Enhanced Equipment Trust Certificate (EETC) to Ba2 from Ba3. The outlook remains positive.
The upgrade of the ratings reflects Moody’s belief that JetBlue will maintain credit metrics at levels at least supportive of the B2 rating category as it continues to expand its operations. “We believe that credit metrics will further strengthen in 2014,” said Moody’s Senior Credit Officer, Jonathan Root. “Industry fundamentals will remain favorable, allowing JetBlue to avoid sacrificing unit revenues to maintain load factors as it continues to grow capacity in excess of 5% annually.”

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By TESTCustomwebLP TESTCustomwebLP April 17, 2014 10:02
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