Onex Corp.’s purchase of WestJet Airlines Ltd. has prompted Moody’s Investors Service to place two of the carrier’s credit ratings under review for possible downgrade. The rating agency says it expects Onex to download some of the $5-billion acquisition cost, which includes debt, onto WestJet when the deal closes. Such a move would increase the airline’s adjusted leverage, though WestJet has no room in its current rating for any increase, Moody’s said Tuesday. Onex Corp.'s purchase of WestJet Airlines Ltd. has prompted Moody's Investors Service to place the carrier's credit rating under review for possible downgrade. The all-cash deal, announced Monday, will see Toronto-based Onex take WestJet private after 20 years on the Toronto Stock Exchange.

Source: thestar May 14, 2019 19:41 UTC