Fitch downgrades Airbus to ‘BBB+’; Outlook Negative

Fitch Ratings has downgraded Airbus Long-Term Issuer Default Rating (IDR) to ‘BBB+’ from ‘A-‘/ The Outlook is Negative. Fitch has also downgraded Airbus’s and Airbus Group Finance BV’s senior unsecured debt to ‘BBB+’ from ‘A-‘. Airbus’s Short-Term IDR has been affirmed at ‘F1’. The downgrade reflects Fitch’s view that the recovery from the pandemic will be more prolonged relative to our previous expectations, with a slower rebound in the large commercial aircraft (LCA) market leading to weaker cash flows through the medium term. Fitch believes that Airbus will be challenged to return its financial metrics to levels consistent with a