|Quoting Rwy04LGA (Thread starter):|
jetBlue Airways' credit rating was cut one step further to B3, six levels below investment grade bt Moody's Investors Service, after the LCC posted losses for all of 2006 and the 1st Q of 2007.
The company's ratings "were downgraded because of the continued high level of financial leverage following several years of rapid, largely debt-financed growth of its aircraft fleet," Moody's said in a news release.
Another factor was "weak financial results at JetBlue during a relatively good operating environment for the airlines," Moody's said.
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