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BULLETIN: Delta Air Lines Reports on Debt Exchange Nov 04
Standard & Poors, Nov 2004
Abstract
NEW YORK (Standard & Poor's) Nov. 3, 2004--Delta Air Lines Inc. (CC/Negative/--) reported yesterday that its proposed public debt exchange had been oversubscribed for one class of bonds-the short-term securities-but that the response has thus far been much lower for the other two classes of bonds. Standard & Poor's Ratings Services said its ratings and outlook on Delta are not affected. Delta alluded to the possibility that only the short-term securities would be exchanged, which would defer $235 million of 2000-1C and 2001-1C pass-through certificates (junior classes of enhanced equipment trust certificates) due in 2005 by issuing an equal amount of new secured notes due 2008. Delta is hoping to defer and reduce additional debt through an exchange of intermediate...
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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