- Language: English
- 105 Pages
- Published: December 2008
- Region: World
Delta Air Lines Inc.'s Secured Credit Facility And Term Loan Facility Each Rated 'BB-' (Recovery Rating '1') Mar 11
- Published: March 2011
- Standard & Poors
NEW YORK (Standard & Poor's) March 31, 2011--Standard & Poor's Ratings Services said today that it has assigned its 'BB-' issue-level ratings to Delta Air Lines Inc.'s $1.225 billion secured revolving credit facility maturing in 2016 and $1.375 billion first-lien term loan facility maturing in 2017. The ratings are two notches higher than the 'B' corporate credit rating on Delta. The recovery rating on each facility is '1', indicating our expectation that lenders would receive very high (90%-100%) recovery of principal in the event of a payment default. The facilities are refinancing the first-lien revolving credit facility and second-lien term loan, respectively, that were used to fund Delta's exit from Chapter 11 bankruptcy protection in 2007. They are secured by...
Companies mentioned in this report are: Delta Air Lines Inc.,Northwest Airlines Inc.,Northwest Airlines Corp.
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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Delta Air Lines Inc.,Northwest Airlines Inc.,Northwest Airlines Corp.
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