Lufthansa keeps rating with hybrid bond
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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.
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