Scope Ratings has confirmed Deutsche Lufthansa AG’s issuer rating at “BBB-” and maintained the outlook as stable.
In addition, Scope has reaffirmed the ratings for unsubordinated, unsecured bonds with “BBB-“, for subordinated (hybrid) bonds with “BB” and for short-term liabilities with “S-2”.
Lufthansa’s business risk profile is supported by its size, strong positions in key European hubs and global connectivity, Scope Ratings said. In addition, there is “significant revenue diversification” through the areas of passenger transport, freight and MRO (maintenance, repair and overhaul). According to Scope, profitability remains the key limiting factor, as an improvement in margins depends on the further implementation of Lufthansa Airlines’ restructuring program as well as on structural cost savings in a cost-intensive market environment.
The Lufthansa share was temporarily at 7.15 euros after trading on Tradegate, 0.56 percent above its XETRA closing.
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