According to reports, airport operator BAA could have their massive £10bn debt classified as 'junk' in the next couple of months if they fail to refinance it. If their debt is written off in this way, it could spell financial disaster for BAA, which counts Heathrow, Gatwick and Edinburgh Airport among its business portfolio. This is because the business currently has £5bn worth of lenders, who will be eager to recall their loans if the massive debt is made junk.
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