Delta Air Lines Inc. Series 2011-1 Class B Pass-Through Certificates Assigned Preliminary 'BB (sf)' Rating Aug 11
- Language: English
- Published: August 2011
NEW YORK (Standard & Poor's) Nov. 19, 2010--Standard & Poor's Ratings Services today said it has assigned its 'A- (sf)' issue-level rating to Atlanta, Ga.-based Delta Air Lines Inc.'s $474.072 million pass-through certificates, series 2010-2A, with an expected maturity of May 23, 2019. The final legal maturities will be 18 months after the expected maturity. The issue is a drawdown under a Rule 415 shelf registration. The rating is based on Delta's credit quality, substantial collateral coverage by a combination of very desirable and somewhat-less-liquid aircraft, and on legal and structural protections available to the pass-through certificates. The company will use proceeds of the offering to refinance aircraft Delta already owns: Six B737-800, one B757-200ER, and three B767-300ER aircraft (previously...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: New Rating
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Delta Air Lines Inc.