Synthetic Transactions' Ratings Lowered After Delta Rating Action; Remain on Watch Negative Sep 01

Standard & Poors, September 2001

Abstract
NEW YORK (Standard & Poor's) Sept. 20, 2001--Standard & Poor's today lowered its ratings on various synthetic securities due to the recent rating action concerning Delta Airlines Inc. At the same time, the ratings remain on CreditWatch with negative implications (see list). The rating actions on the synthetic securities reflect the lowered rating on Delta Air Lines Inc. that was made Sept. 20, 2001 following the Sept. 11 terrorist attacks on New York and Washington, D.C. The synthetic securities are swap-independent synthetic transactions that are weak-linked to the underlying collateral, Delta Airlines Inc. debt. The revised ratings reflect the credit quality of the underlying securities issued by Delta Airlines Inc. Corporate Backed Trust Certificates Series 2001-6 Trust $53.091 million corporate...

Companies mentioned in this report are: Delta Air Lines Inc.
Action: Downgraded, On CreditWatch Negative

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.

Delta Air Lines Inc.

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