Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2 (18 lettori)

waltermasoni

Caribbean Trader
Fitch Affirms United Airlines at 'BB'; Outlook Stable
28 AUG 2019 09:56 AM ET



Fitch Ratings - Chicago - 28 August 2019:

Fitch Ratings has affirmed the Issuer Default Rating (IDR) for United Airlines Holdings, Inc. (UAL) and its airline operating subsidiary, United Airlines, Inc. at 'BB'. The Rating Outlook is Stable. Fitch has also affirmed its existing ratings on United's outstanding EETC transactions.

The rating affirmation reflects generally positive trends at United including the company's solid operational and financial performance relative to peers over the past year. Operating margins and credit metrics trends have improved in 2019 owing to United's ongoing strategic initiatives, a strong demand environment and manageable fuel costs. Fitch forecasts that credit metrics will remain roughly stable over the next 2-3 years barring an unexpected economic downturn.

Fitch calculates United's total adjusted debt/EBITDAR at 3.0x as of June 30, 2019. Fitch's expectations for medium term adjusted leverage metrics in the low 3x range, EBITDAR margins sustained in the upper teens, and prospects for positive FCF are strong for the 'BB' rating. The rating could move higher if United continues along the trend that it has set over the past two years. Near-term concerns include the possibility of a weaker macroeconomic environment along with other risks that are typical of the airline industry.
 

silent25

Nuovo forumer
il bond teva al momento dorme.

ci sono parecchi ISIN del titolo TEVA, sia in € che in $, il '25 (in €) è il più liquido mi pare, purtroppo ho il '27 e lui è praticamente fermo. Attendo il rientro dei ferragostani .... sperando che ripartano i contratti di acquisto/vendita.
 
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