S&P Credit Research



Title:

Scandinavian Airline SAS On CreditWatch Negative On Weakened Performance And Rising Oil Price

Price:$100.00
Publication Date:Apr 30, 2008
Report Type:News
Abstract:LONDON (Standard&Poor's) April 30, 2008--Standard&Poor's Ratings Services said today it placed its 'BB' long–term corporate credit rating on Scandinavian airline group SAS AB on CreditWatch with negative implications. This reflects deteriorating industry conditions, including the rising oil price and intensifying competition, which we expect to pressure SAS' earnings and cash flow. "The CreditWatch placement reflects our concerns that underlying trading conditions are deteriorating," said Standard&Poor's credit analyst Leigh Bailey. "This is adversely affecting the group's performance and could place additional pressure on its financial profile." The rapid rise in oil prices, which is difficult to satisfactorily offset, and intensification of competition in certain markets by budget carriers mean that SAS faces a very challenging
Ticker:SAS@SS
Issuer:SAS AB
GICS:Airlines (20302010)
Sector:Global Issuers, Corporations, Aerospace & Defense
Country:Sweden
Region:Europe, Middle East, Africa
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S&P Credit Research

S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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