Moody's downgrades SAS credit rating one step with negative outlook

Moody's downgrades SAS credit rating one step with negative outlook 

SAS credit rating was today downgraded by one step from B3 to Caa1 for the
company's long term rating. The outlook is negative reflecting the industry's
negative trend. 

The downgrade is mainly a result of the weakening development in earnings due to
increased yield pressure in the market.

Moody's recognizes SAS Group's measures in the Core SAS strategy to improve
profitability and that it holds SEK 10 billion in financial preparedness (cash
and undrawn facilities).

The downgrade does not affect any of the SAS Group's loans or credit facilities.





SAS Group Investor Relations

For further information, please contact
Sture Stølen, VP, Head of SAS Group Investor Relations + 46 8 797 1451

SAS discloses this information pursuant to the Swedish Securities Market Act
and/or the Swedish Financial Instruments Trading Act. The information was
provided for publication on November 12, 2009, at 6:30  p.m CET.