Research Update: Delta Air Lines Inc. Mar 03

  • ID: 1929128
  • March 2003
  • Standard & Poors
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On March 28, 2003, Standard & Poor's Ratings Services lowered its ratings for Delta Air Lines Inc., including lowering the long-term corporate credit rating to 'BB-' from 'BB'. Ratings remain on CreditWatch with negative implications. The downgrades, part of a review of four major U.S. airlines, reflect financial damage from reduced revenues and deeper losses leading up to and during the Iraq war, and the risk of further deterioration should the war prove long and difficult, or if significant terrorist attacks occur. Although fuel prices have fallen since the war began, aiding airlines somewhat, the decline in traffic that started before the war has since worsened, particularly on international routes. The severity of the traffic decline will depend on how...

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

Action: Downgraded, On CreditWatch Negative

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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- Delta Air Lines Inc.

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