Aug 15 (Reuters) -

Fitch Ratings on Friday downgraded Spirit Airlines

long-term credit rating to 'CCC-' from 'CCC+', citing a high

likelihood of near-term default.

"The downgrade reflects the heightened possibility that

Spirit may be unable to avoid a default given its ongoing

operating losses and declining liquidity," Fitch said in its

report.

The move follows Spirit's warning earlier this week about

"going concern" risks, just months after the carrier emerged

from bankruptcy. The airline's operations have been strained by

weak domestic demand and shrinking cash reserves.

In its quarterly report Monday, Spirit said elevated

domestic capacity and softer leisure travel demand in the second

quarter have created a tough pricing environment, further

pressuring results.