Research Update: Delta Air Lines Ratings Raised Upon Bankruptcy Exit Apr 07
- ID: 1929083
- April 2007
- Standard & Poors
On April 30, 2007, Standard & Poor's Ratings Services raised its ratings on Delta Air Lines Inc. (B/Stable/--), including raising the corporate credit rating to 'B', with a stable outlook, from 'D', following the airline's emergence from Chapter 11 bankruptcy proceedings. In addition, we raised our ratings on certain enhanced equipment trust certificates (EETCs) and removed the ratings from CreditWatch. The revised EETC ratings and the reasoning for their upgrade were disclosed in a research update ("Delta Air Lines EETC Ratings Indicated") published on RatingsDirect April 27, 2007. Ratings on 'AAA' rated, insured EETCs and on Delta's $2.5 billion secured bank facility were affirmed. Delta's relatively rapid and successful reorganization leaves the airline with lower operating costs, improving revenue generation,...
Companies mentioned in this report are:
- Delta Air Lines Inc.
Action: Outlook: Stable
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >