(Feb 7): Korean Air Lines Co ended last year with a credit rating downgrade and debt-to-equity ratio approaching 1,000% — the worst among Asian full-service carriers. * Korean Air had 14.72 trillion won in total borrowings as of September, the latest company disclosure shows. Asiana and Korean Air both face the prospect of credit rating cuts this year, according to Korea Investors Service, the local affiliate of Moody’s Investors Service. Last month, Korean Air said it plans to issue 450 billion won of new shares to be used for working capital. Analysts predict Korea Air will report a net loss of 399 billion won for 2016, according to the average of 14 estimates compiled by Bloomberg.

Source: The Edge Markets February 07, 2017 10:18 UTC