News: VAH S&P Says Virgin Australia Ratings Lowered To 'CC' On Proposed Recapitalization After...

April 21 (Reuters) - S&P Global Ratings:

• S&P GLOBAL RATINGS SAYS VIRGIN AUSTRALIA RATINGS LOWERED TO 'CC' ON PROPOSED RECAPITALIZATION AFTER VOLUNTARY ADMINISTRATION; OUTLOOK NEGATIVE
• S&P SAYS LOWERED ISSUER CREDIT RATING ON VIRGIN AUSTRALIA TO 'CC' FROM 'CCC', LOWERED RELATED ISSUE RATINGS ON CO'S UNSECURED DEBT TO 'C' FROM 'CCC-'
• S&P, ON VIRGIN AUSTRALIA, SAYS EXPECT CO'S UNSECURED DEBT PROVIDERS WILL BE FORCED TO ACCEPT LESS VALUE FOR AMOUNTS OWING IN TERMS OF DEBT FACILITIES

Source: https://bit.ly/352zgWZ

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