...+ Lufthansa's operating performance in 2016 will likely be below our expectations, owing to softened traffic volumes and continued pressure on ticket prices. + In combination with a potential large and sustained increase in its pension deficit, this might have an adverse effect on Lufthansa's credit measures. + We are therefore revising our outlook on Lufthansa to negative from stable and affirming our '###-/A-3' ratings on the company. + The negative outlook reflects the possibility that we could lower the rating on Lufthansa to '##+' in the next one to two years if the company is not able or willing to prevent a potential increase in adjusted financial leverage. FRANKFURT (S&P Global Ratings) Sept. 15, 2016--S&P Global Ratings today revised its outlook on German airline Deutsche Lufthansa AG to negative from stable. At the same time, we affirmed our '###-/A-3' long- and short-term corporate credit ratings on Lufthansa. We also affirmed our ratings on all debt instruments issued by Lufthansa....
