Fitch Downgrades Virgin Australia following move into administration  

 Fitch Ratings has downgraded Virgin Australia Long-Term Foreign-Currency Issuer Default Rating to ‘D’ from ‘CCC-‘, following the carrier’s announcement it has entered voluntary administration. Virgin said on April 21 that it will continue to seek financial assistance – but to date has not successfully secured the required support – to shore up its liquidity and ongoing financial position as the majority of its planes remain grounded due to the travel restrictions imposed in Australia to combat the coronavirus. “We understand that the administrators and the Australian state and federal governments, alongside VAH, are seeking a new buyer for the airline