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Delta Air Lines Inc. Series 2011-1 Class B Pass-Through Certificates Assigned 'BB (sf) ' Rating Aug 11
Standard & Poors, August 2011
NEW YORK (Standard & Poor's) Aug. 16, 2011--Standard & Poor's Ratings Services said today that it has assigned its 'BB (sf)' rating to Delta Air Lines Inc.'s $102 million series 2011-1 class B pass-through certificates with an expected maturity of Oct. 15, 2014. The final legal maturity will be 18 months after the expected maturity. The issue is a drawdown under a Rule 415 shelf registration. The certificates are secured by the same collateral as, and are subordinate to, Delta's 2011-1 class A pass-through certificates, which we rated 'A- (sf)' on April 4, 2011. The 'BB (sf)' rating is based on Delta's credit quality, adequate collateral coverage, and on legal and structural protections available to the pass-through certificates. The company...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: New Rating
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
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Delta Air Lines Inc.