Qantas Airways (ASX: QAN) has been downgraded to 'BB+/B', outlook negative, by Standard & Poor’s.
Qantas' senior unsecured debt rating lowered to 'BB+'. On negative watch.
Standard & Poor’s said, "In our view, a structural shift in the domestic competitive landscape has weakened Qantas' business risk profile.
"In addition, a sizable loss is expected in the six months to Dec 31, 2013 causing Qantas' financial risk profile to deteriorate."
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