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
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.