CALGARY, Feb. 28, 2014 /CNW/ - WestJet (TSX: WJA) is very pleased to announce that it has been assigned a BBB- corporate credit rating ("investment grade") with a stable outlook by Standard & Poor's Ratings Services.
"This places us among the very few airlines in the world with an investment grade credit rating," said Vito Culmone, WestJet's Executive Vice-President of Finance and CFO. "This rating reflects our strong liquidity, conservative capital structure and solid market position. Combined with 35 consecutive quarters of profitability, driven by our culture of ownership and care, this BBB- Stable rating will provide us with additional forms of cost-effective financing options going forward."
Caution regarding forward-looking information
Certain information set forth in this news release, including, without limitation, information regarding additional forms of cost-effective financing options going forward, is forward-looking information within the meaning of applicable Canadian securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including those risk factors referred to under the heading "Risks and Uncertainties" in WestJet's management's discussion and analysis for the year ended December 31, 2013. Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. WestJet does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
We are proud to be Canada's most-preferred airline, powered by an award-winning culture of care and recognized as one of the country's top employers. We offer scheduled service to more than 85 destinations in North America, Central America, the Caribbean and Europe. Through our regional airline, WestJet Encore, and with partnerships with airlines representing every major region of the world, we offer our guests over 140 destinations in more than 20 countries. Leveraging WestJet's extensive network, flight schedule and remarkable guest experience, WestJet Vacations delivers affordable, flexible travel experiences with a variety of accommodation options for every guest. Members of our WestJet Rewards program earn WestJet dollars on flights, vacation packages and more. Our members use WestJet dollars towards the purchase of WestJet flights and vacations packages on any day, at any time, to any WestJet destination with no blackout periods - even on seat sales. For more information about everything WestJet, please visit www.westjet.com.
Recent recognition includes:
2014 Value Airline of the Year (Air Transport World magazine)
2013 Gold Stevie Award Best Transportation Company (American Business Awards)
2013 Chairman's Circle Award: WestJet Vacations (CPSC)
2013 Canada's Most Preferred Airline (Leger Marketing)
2013/2012 Canada's Most Attractive Employer (Randstad)
2013 WestJet RBC MasterCard ranked #1 in Canada (MoneySense magazine)
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For further information:
WestJet Investor Relations