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JetBlue Airways' debt ratings affirmed with stable outlook - Fitch


Published : Fri, 10 Aug 2007 15:47
By : Agencies
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LONDON (Thomson Financial) - Fitch Ratings has affirmed the issuer default rating of JetBlue Airways Corp at 'B' and the senior unsecured convertible notes at 'CCC' with a stable outlook.

Fitch said JetBlue's ratings reflect the low-cost carrier's highly levered capital structure and weak free cash flow generation capacity, balanced against its competitive cost structure, improving operating profile and fleet plan flexibility.

Even though JetBlue's low-cost, non-union model should allow it to generate industry-leading margins for some time to come, credit metrics will likely remain weak as new aircraft deliveries are financed with incremental debt and leases, the ratings agency said.

TFN.newsdesk@thomson.com

npr/dca

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