Delta Air Reorganization Plan Advances As US Airways Drops Takeover Bid; No Ratings Impact Jan 07

  • ID: 1929079
  • January 2007
  • Region: United States
  • Standard & Poors
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  • Delta Air Lines Inc.
  • US Airways Group Inc.
  • MORE

NEW YORK (Standard & Poor's) Jan. 31, 2007-- US Airways Group Inc. (B-/Watch Dev/--) dropped its proposed acquisition bid for Delta Air Lines Inc., removing the largest obstacle to Delta's plan to emerge from Chapter 11 as a standalone entity. The announcement has no effect on Standard & Poor's Ratings Services' 'D' corporate credit rating on Delta (defined by its bankruptcy status) or the CreditWatch review of various aircraft-backed debt. Our ratings of enhanced equipment trust certificates, excepting 'AAA'-rated, bond-insured issues, remain on CreditWatch with developing implications, pending completion of a review of their treatment in Delta's proposed plan of reorganization. Standard & Poor's will assign a new corporate credit rating to Delta upon its emergence from bankruptcy, expected in...

Companies mentioned in this report are:
- Delta Air Lines Inc.
- US Airways Group Inc.

Action: CreditWatch Update

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.
- US Airways Group Inc.

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