S&P upgrades Qantas rating from 'junk' status

Australian carrier Qantas on Tuesday got shot of its "junk" status when Standard & Poor's lifted its rating from 'BB+' to the prized investment grade 'BBB-' as the airline bounces back from a tough few years. The upgrade of Qantas' long-term corporate credit and issue rating comes after the airline completed a profit turnaround this year, supported by lower fuel prices, and adopted a more conservative financial framework. "We view this framework to be materially more prudent and creditor-fri