Research Update: Delta Air Lines Inc. Mar 03
- ID: 1929128
- March 2003
- Standard & Poors
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
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Product Type: Research Update
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