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Bulletin: Delta Reported In Merger Talks; No Ratings Impact Yet Jan 08
Standard & Poors, Jan 2008
Abstract
NEW YORK (Standard & Poor's) Jan. 15, 2008--Media sources reported today that Delta Air Lines Inc. (B/Positive/--) has entered into merger talks with UAL Corp. (B/Stable/--) and Northwest Airlines Corp. (B+/Stable/--). Standard & Poor's Ratings Services said that this report has no effect on our ratings or outlook on Delta, but that confirmed merger negotiations would result in our placing ratings of Delta and other airlines involved on CreditWatch, most likely with developing or negative implications. Although Delta has not confirmed the merger discussions, the head of the airline's pilots' union (which has a seat on Delta's board of directors) told the pilots in an internal (but widely reported) letter last week that industry consolidation may be very close. Delta...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: Bulletin
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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