RE:Fitch Revises Outlook for Air Canada to PositiveVeecee1 wrote: itch Ratings - Chicago - 28 Mar 2023: Fitch Ratings has affirmed Air Canada's Long-Term Issuer Default Rating at 'B+'. The Rating Outlook has been revised to Positive from Negative.
The Outlook revision reflects an improving environment for travel demand and reduced concerns around items such as elevated fuel prices and prolonged impacts of inflation. Fitch expects profitability at Air Canada to improve through 2023 and 2024, from low levels in 2022, which was still heavily impacted by COVID-19. YE 2022 leverage remains high for Air Canada's 'B+' rating on a gross basis, but Fitch expects leverage to improve within our negative sensitivity by YE 2024. Leverage remains more manageable on a net basis due to Air Canada's healthy liquidity balance
Air Canada's 'B+' rating is supported by quickly improving traffic in Canada leading to better profit margins and normalizing credit metrics. The company also benefits from a solid liquidity balance, which provides protection in the case of a downturn. Air Canada also retains sufficient financial flexibility from unencumbered assets including its loyalty program, to support further capital raises if needed.
How quickly will the TROLLS try to bury this thread?
https://stockhouse.com/companies/bullboard/t.ac/air-canada?threadid=35367232