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FILE PHOTO: A Rolls Royce jet engine is seen on Boeing 787-10 on the static display during the 52nd Paris Air Show at Le Bourget Airport near Paris, France June 20, 2017. REUTERS/Pascal Rossignol. LONDON (Reuters) - Ratings agency Standard & Poor’s cut engine maker Rolls-Royce’s ( RR.L ) credit rating to junk on Thursday, citing the disruption caused to global air travel from the COVID-19 pandemic. S&P cut its rating for the British company to “BB” from “BBB-“, below investment-grade. “Actions to contain the pandemic, including government-imposed social-distancing measures, travel restrictions, and stay-at-home orders, have suddenly and sharply reduced global demand for air travel,” S&P said in a statement. Full story

28 May