Jan 18 Reuters Spirit Airlines is looking at options to refinance its debt and is not considering restructuring, a person familiar with the matter told Reuters on Thursday.

The company39;s shares have been falling since Tuesday on investor concerns about its financial future after a U.S. judge blocked its 3.8 billion merger with JetBlue Airways.

Spirit will continue to take steps to shore up its balance sheet, the person said, who asked not to be named as the discussions are still private. What we39;re looking at is refinancing debt.

A company spokesperson later said the airline was not pursuing nor involved in a statutory restructuring.

The selloff in the company39;s shares picked up speed Thursday afternoon after the Wall Street Journal reported that the ultra lowcost carrier was exploring restructuring options. The report did not provide any details on the discussions.

Spirit39;s shares, however, pared losses after Reuters reported the company39;s stance, and closed down about 7, after falling as much as 34 during the day.

Ratings agency Fitch on Wednesday said Floridabased Spirit39;s credit profile was under pressure as it faced significant refinancing risk in the next year with its 1.1 billion loyalty program debt coming due in September 2025.

SP Global Ratings on Thursday said the downside credit risks for Spirit over our 12month outlook horizon far outweigh the possibility they could win a potential appeal.

Earlier in the day, the company said it has been…