12-06-2013, 04:20 AM
Qantas the Australian airline has had its credit rating downgraded to “junk” or “below investment level, by the ratings agency Standard & Poors “S & P”.
The downgrade could increase the airlines borrowing costs and sends a warning to investors.
The move by S & P comes after the airline issued a surprise profit warning and announced 1000 job cuts on thursday.
The carrier expects to make losses of up to 300 million Aussie dollars which equals 271 million American dollars or 165 million British pounds because as we know American dollars are toilet paper but Aussie dollars are recycled toilet paper.
Chances of Australia being invited into the elite club of G7 nations alongside Great Britain? Zero. Australia sucks as usual.
The downgrade could increase the airlines borrowing costs and sends a warning to investors.
The move by S & P comes after the airline issued a surprise profit warning and announced 1000 job cuts on thursday.
The carrier expects to make losses of up to 300 million Aussie dollars which equals 271 million American dollars or 165 million British pounds because as we know American dollars are toilet paper but Aussie dollars are recycled toilet paper.
Chances of Australia being invited into the elite club of G7 nations alongside Great Britain? Zero. Australia sucks as usual.
We need to punish the French, ignore the Germans and forgive the Russians - Condoleezza Rice.