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Bulletin: Delta Air Lines Inc.'s Possible Funding Of Japan Airlines Corp. Will Not Affect Ratings Nov 09
Standard & Poors, Nov 2009
Abstract
NEW YORK (Standard & Poor's) Nov. 19, 2009--Standard & Poor's Ratings Services said today that Delta Air Lines Inc.'s (B/Negative/--) proposal to provide funding to Japan Airlines Corp. (JAL; CC/Watch Neg/--) will not affect the ratings or outlook on Delta. The $1 billion proposal from Delta and its SkyTeam alliance partners (including Air France-KLM (not rated)) includes Delta providing a $300 million revenue guarantee and $200 million of asset-backed funding to financially ailing JAL. The alliance will provide another $500 million of capital. Negotiations on a new U.S.-Japan 'open skies' aviation treaty, in which U.S. airlines could allow other airlines increased access to serve Japan and routes beyond Japan, are currently ongoing. If and when the treaty is concluded, it...
Companies mentioned in this report are: Delta Air Lines Inc.,Japan Airlines Corp.
Action: Bulletin
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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