(Editor's Note: A press release that ran earlier today misstated Northwest Airlines total affected debt as $3.2 million in the first paragraph. A corrected version follows.) NY -- Standard & Poor's CreditWire 9/23/98 – Standard & Poor's today affirmed its ratings on Northwest Airlines Corp. and unit Northwest Airlines Inc. and removed the ratings from CreditWatch, where they were placed on Aug. 31, 1998 (see table below). The outlook is negative. About $3.2 billion in debt is affected. The rating affirmation is based on the company's strong competitive position at U.S. hub airports, which should allow a fairly rapid recovery from the costly 15-day pilots' strike, and satisfactory financial flexibility, despite cash losses expected to exceed $400 million relating to...
Companies mentioned in this report are:
- Northwest Airlines Corp.
- American Airlines Inc.
- United Airlines Inc.
- Delta Air Lines Inc.
- United Air Lines Inc.
Action: Affirmed, Off CreditWatch
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Research type: News
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