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Thursday, October 15, 2009
Southwest Airlines Credit Rating Is Lowered At S&P
By Christopher Hinton
MarketWatch Pulse
NEW YORK -- Standard & Poor's on Thursday lowered its credit rating on Southwest Airlines Co. one notch to BBB from BBB+, citing lower demand and higher fuel prices that have negatively affected its cash flow. "The outlook is negative, reflecting our concerns regarding the timing and strength of a recovery in earnings, which would delay an improvement in the company's financial profile," the ratings firm said. Shares of Southwest fell about 5% to $9.57.
Copyright © 2009 MarketWatch, Inc.
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