RING: 02060 E-POST: 02060@nettavisen.no
Ønsker du å sende video eller andre dokumenter? Benytt 02060@nettavisen.no
Kontakt oss

Watchdog flunks SAS

The credit evaluation agency Moody’s is disappointed by SAS’ result development and claims the prognosis is negative in the short site term.

Moody’s downgrade the prognosis for SAS from stabile to negative, according to a press release from the company, reported the news agency Direkt.

According to Moody’s, the main reason is that SAS’ financial development in the first 6 months was poorer than expected. The credit watchdog does not see any improvement in the near future.

The results in the SAS group will still be restrained by the challenges the company is facing, among other things, the strong competition from the discount fare companies, the low numbers of business travellers and the high operating costs. At the same time, Moody’s gave SAS praise for managing to stick to its own improvement program Turnaround 2005.

Moody’s decided to keep its credit rating on SAS this time. As a result, the company will most likely not get increased interest costs because the credit rating company only degraded the prognosis.

However, in order for SAS to maintain today’s credit rating, higher net profit margins and an improvement in the relation cash flow and net dept are required, according to Moody’s press release.

Mest sett siste uken

Lik Nettavisen her og få flere ferske nyheter og friske meninger!

Våre bloggere