Rolls-Royce junk? Legendary British firm’s credit rating cut below investment grade ...United Arab Emirates

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Rolls-Royce junk? Legendary British firm’s credit rating cut below investment grade
source : Russia Today ( United Arab Emirates ) () 23
Ratings agency Standard & Poor’s (S&P) has downgraded engine maker Rolls-Royce’s credit rating to junk, citing the disruption caused to global air travel from the coronavirus pandemic. The British company’s rating has been lowered to “BB” from “BBB”, (below investment grade) in response to Rolls-Royce’s worsening near-term prospects as whole fleets of planes remain grounded.  “Actions to contain the pandemic, including government-imposed social-distancing measures, travel restrictions, and stay-at-home orders, have suddenly and sharply reduced global demand for air travel,” said S&P.  READ MORE: ‘Tsunami of job losses’: Airlines going

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