Baa

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Baa

A credit rating used by Moody's credit agency for long-term bonds and some other investments. It is subdivided (in descending order) into Baa1, Baa2, Baa3. A Baa rating is equivalent to the BBB rating range used by Fitch and S&P. A Baa rating represents a relatively low-risk bond or investment; banks are allowed to invest in Baa rated bonds. However, Baa is toward the bottom of investment-grade bond ratings, being only one grade above junk bond ratings. Risk-averse investors must therefore exercise caution in Baa investments, especially if the rating was recently downgraded.

Baa

See BBB.

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After that latest loss, BAA said it would appeal to the Supreme Court but on Monday, the Spanish-owned company signalled an end to its fight to hang on to Stansted.

BAA to abandon Stansted battle

BAA said the Government's decision not to build any more runways in the South East for the foreseeable future should have a bearing on the original decision.

Defeat for BAA over Stansted sell-off

While the legal battle was going on, BAA sold Gatwick to US-based investment fund Global Infrastructure Partners for about pounds 1.

BAA told to sell off two of its airports

A strike by BAA could have practically paralysed UK air travel, particularly in Scotland, due to BAA's monopoly.

FOR SALE: TWO USED AIRPORTS; yourmoney: Lower fares hope as BAA is told to let go

BAA, owned by Spanish group Ferrovial, had angered union members by withdrawing a 450 pound payment conditional on BAA's hitting earnings targets -- which it missed by 3%.

BAA averts strike with 2% pay rise offer

Askar said in his letter that the BAA "is shocked and saddened by the unfounded and untrue allegations" made by Kamel.

BAA summons athlete Kamel

The commission's BAA airport ownership inquiry chairman Christopher Clarke said there were "significant competition problems" arising from BAA's ownership of its seven UK airports which also include Heathrow, Southampton and Aberdeen.

Airport empire could be broken up

The cost of insuring BAA's debt against default fell sharply, with five-year credit default swaps on BAA about 80 basis points tighter at 175 basis points, one trader said.

Ferrovial makes key step in pounds 10bn debt finance to move on BAA deal

UK Office of Fair Trading that BAA be investigated by the UK's Competition Commission (see story below), Bisignani said, "BAA is fast becoming a nightmare" as charges will increase 50% in the 2003-08 period and another 50% in 2008-13.

Airport News - Europe

AIRPORT operators BAA have grounded the hopes of a consortium who tried to land a rival takeover bid.

Rival BAA bid is grounded

British airports operator BAA Plc accepted a GBP10bn takeover bid from a consortium led by Spain's Grupo Ferrovial SA yesterday (6 June).

BAA accepts Ferrovial bid, rejects higher offer from Goldman Sachs - report

A venture to provide a new, live flight and airport information service for mobile phones has been revealed by airport operator BAA, in partnership with Digital Rum, a provider of secure, scaleable mobile solutions.