Moody's downgrades SAS credit rating one step with negative outlook

Moody's downgrades SAS credit rating one step with negative outlook 

SAS credit rating was today downgraded by one step from B1 to B2 for the
company's long term rating. The outlook is negative reflecting the industry's
negative trend.

The downgrade is mainly a result of the weakening development in earnings due to
high jet fuel prices, overcapacity in the Scandinavian air market and the
business cycle.

Moody's recognizes SAS Group's powerful measures to improve profitability and
the satisfactory liquidity.

The downgrade does not affect any of the SAS Group's loans or credit facilities
since they are not connected to Moody's rating.
For further information 
Sture Stølen, VP, Head of SAS Group Investor relations + 46 8 797 1451


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