Moody’s Investors Service has become the second ratings agency to downgrade Australian airline Qantas to junk status, forcing the carrier’s borrowing costs to rise. Moody’s downgraded Qantas’ senior unsecured rating to Ba2 from Baa3, and its short-term rating to Not Prime (NP) from P-3; it said the outlook for the ratings is negative. The downgrading follows the airline’s profit warning last month, which prompted Standard & Poor’s to take similar ...

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