Qantas Airways credit rating has been upgraded by Moody’s Investors Service, ending the Australian carrier’s more than two-year spell as a junk-rated credit, Bloomberg reported. The Sydney-based airline was raised one level to Baa3 by Moody’s, which had stripped it of investment-grade status back in January 2014. The move by Moody’s, which now has a stable outlook on Qantas, rewards Chief Executive Officer Alan Joyce’s efforts to cut debt and return the firm to profitability. It follows a similar decision by Standard & Poor’s in November, which lifted its score to BBB- with a stable outlook.
