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Aircraft Debt of Three Airlines Upgraded by S&P Nov 96
Standard & Poors, Nov 1996
Abstract
NY -- Standard & Poor's CreditWire 11/26/96 -- Standard & Poor's today has raised the equipment trust certificate ratings of American Airlines Inc. and Delta Air Lines Inc. to triple-`B' from triple-`B'-minus, and of United Air Lines Inc. to triple-`B'-minus from double-`B'-plus, to reflect a change in rating policy. About $6 billion of securities is affected. Under the new policy, the two-notch enhancement for equipment trust certificates of lower-rated airlines now applies to all noninvestment-grade airlines. This conforms with Standard & Poor's recently published new guidelines for ultimate recovery as a rating factor (see 'Ultimate Recovery in Ratings: A Conceptual Framework,' in the Nov. 6, 1996 CreditWeek). Equipment trust certificate rating criteria incorporate both the possibility of continued payment during...
Companies mentioned in this report are: Delta Air Lines Inc.,American Airlines Inc.,United 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.
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