Fitch: Affirms Delta Following Northwest Merger Announcement; Outlook to Negative.
Travel & Leisure Close-Up, April, 2008
TRAVEL AND LEISURE CLOSE-UP-20 April 2008-Fitch: Affirms Delta Following Northwest Merger Announcement; Outlook to Negative(C)2008 - CloseUpMedia - newsdesk@closeupmedia.com
Fitch Ratings has affirmed the debt ratings of Delta Air Lines following the announcement that Delta has agreed to merge with Northwest Airlines, subject to approval by the two airlines' shareholders and the U.S. Department of Justice (DOJ). D
Delta's ratings were affirmed as follows:
- Issuer Default Rating (IDR) at 'B';
- First-lien senior secured credit facilities at 'BB/RR1';
- Second-lien secured credit facility (Term Loan B) at 'B/RR4'.
The issue ratings apply to $2.5 billion of committed credit facilities. The Rating Outlook for...
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