International rating Agency Moody’s downgraded the ratings of the German airline Lufthansa to stable from positive, said the Agency, reports Prime.
At the same time, the Agency affirmed the ratings at their current levels: corporate rating for the group of companies of Ba1 and probability of default rating to “Ba1-PD”.
“We changed the Outlook on the ratings of the Lufthansa airlines is stable, because it is not expected a significant improvement in its operating profit in 2017, which limits the likelihood of raising the rating, despite the good results for the first nine months of 2016,” – are reported words of a leading analyst Moody’s on Lufthansa Sven Reinke (Reinke Sven).
Confirmation of the ratings Agency says the progress of Lufthansa’s strategy to improve competitiveness, leading position in European aviation and a large network of routes.
Deutsche Lufthansa Group is one of the largest European airlines, headquartered in Cologne. The staff of the company as at 30 September 2016 totaled 124.2 thousand people.