American Credit Rating Company Downgrades IAG Owners of BA and Iberia

AIRLINE shares had been doing well on international stock exchanges over the past few weeks as bullish investors saw an opportunity to buy cheap and bank on airline recovery.

For the IAG group this has come to an end as American credit rating agency Moodys has dropped its rating of the owner of Aer Lingus, BA, Iberia and Vueling from Baa3 to Ba1 which saw an immediate drop in share price.

In basic terms this means that Moodys foresee the possibility of future financial difficulty and a lengthy recovery period.

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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