S&PCORRECT: Northwest Airlines & Unit Off CreditWatch Sep 98
Standard & Poors, September 1998
Abstract
(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
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.
- Northwest Airlines Corp.
- American Airlines Inc.
- United Airlines Inc.
- Delta Air Lines Inc.
- United Air Lines Inc.
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