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S&PCORRECT: Northwest Airlines & Unit Off CreditWatch Sep 98 Product Image

S&PCORRECT: Northwest Airlines & Unit Off CreditWatch Sep 98

  • ID: 1929458
  • September 1998
  • Standard & Poors

FEATURED COMPANIES

  • American Airlines Inc.
  • Delta Air Lines Inc.
  • Northwest Airlines Corp.
  • United Air Lines Inc.
  • United Airlines Inc.
  • MORE

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 READ MORE >

- Northwest Airlines Corp.
- American Airlines Inc.
- United Airlines Inc.
- Delta Air Lines Inc.
- United Air Lines Inc.

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