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BRIEF-Fitch Downgrades JetBlue To 'CCC+' From 'B-'

BY Reuters | CORPORATE | 05:40 PM EDT

April 4 (Reuters) - Fitch:

* FITCH DOWNGRADES JETBLUE TO 'CCC+' FROM 'B-'; AFFIRMS AND DOWNGRADES CERTAIN EETC RATINGS

* FITCH - DOWNGRADE OF JETBLUE'S IDR REFLECTS CONTINUED OPERATING LOSSES, MORE PROLONGED PATH TO MARGIN RECOVERY

* FITCH - DOWNGRADE OF JETBLUE'S IDR REFLECTS SHARPLY HIGHER JET FUEL PRICES, AND PERSISTENTLY ELEVATED LEVERAGE

* FITCH ON JETBLUE- EXPECTS CREDIT METRICS TO REMAIN OUTSIDE FITCH'S PRIOR DOWNGRADE SENSITIVITIES FOR AT LEAST NEXT 12 TO 18 MONTHS

* FITCH ON JETBLUE: EXPECT NON-FUEL-UNIT COSTS TO REMAIN PRESSURED BY SLOWER CAPACITY GROWTH UNDER CURRENT ECONOMIC CONDITIONS

* FITCH ON JETBLUE: DOWNGRADE SHOWS CONTINUED NEGATIVE FCF, WHICH CONSTRAINS JETBLUE'S FINANCIAL FLEXIBILITY DESPITE STILL-ADEQUATE LIQUIDITY POSITION Source text: Further company coverage:

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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