- Language: English
- Published: May 2012
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
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.
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.
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