Fitch downgrades Spirit Airlines' long-term credit rating to 'CC' (updated)
15/11/2024 22:12
(Adds details in paragraphs 2 & 3)
Nov 15 (Reuters) - Fitch Ratings said on Friday it has
downgraded Spirit Airlines' SAVE.N long-term credit rating to
'CC' from 'CCC'.
A near-term default now appears probable, Fitch said.
It said that the key rating drivers were the company's
constrained financial flexibility, shrinking footprint and low
aircraft availability.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Shailesh
Kuber)
((Aishwarya.Jain@thomsonreuters.com;))