Lufthansa keeps rating with hybrid bond
Frankfurt
DEUTSCHE Lufthansa AG has secured its status as one of a handful of airlines worldwide with an investment grade credit rating following a 500 million-euro (S$783 million) hybrid-bond issue, Standard & Poor's said.
The German carrier's BBB- rank, one above junk, is safe for now after the sale of the bonds, which have a maturity of 60 years, causing them to be classed as closer to stocks, S&P said. It will count half of the bond's value as equity, bolstering a key ratio according to which credit worthiness is assessed.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources