Moody’s upgrades Delta’s debt rating
Moody’s Investors Service has upgraded Delta Air Lines’ debt rating to investment-grade. Moody’s senior credit officer Jonathan Root said the upgrade is based off of the airline’s work over the past several years to pay down its debt, and expectation that it will continue to do so. “The upgrade of the senior unsecured rating to Baa3 is based on the expectation of continued debt reduction, building on the significant de-leveraging of the balance sheet that Delta has achieved since 2009, as well as ongoing stability in Delta’s operations which we believe will enable Delta to continue to handle the industry's volatility,” Root said. Delta has cut down debt by more than US$10b since 2009, and reported in its latest earnings statement a $600m year-over-year decline in adjusted net debt last year, closing out 2015 with $6.7b. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-02-15/sky/moody2019s-upgrades-delta2019s-debt-rating
https://portal.staralliance.com/cms/logo.png
Moody’s upgrades Delta’s debt rating
Moody’s Investors Service has upgraded Delta Air Lines’ debt rating to investment-grade. Moody’s senior credit officer Jonathan Root said the upgrade is based off of the airline’s work over the past several years to pay down its debt, and expectation that it will continue to do so. “The upgrade of the senior unsecured rating to Baa3 is based on the expectation of continued debt reduction, building on the significant de-leveraging of the balance sheet that Delta has achieved since 2009, as well as ongoing stability in Delta’s operations which we believe will enable Delta to continue to handle the industry's volatility,” Root said. Delta has cut down debt by more than US$10b since 2009, and reported in its latest earnings statement a $600m year-over-year decline in adjusted net debt last year, closing out 2015 with $6.7b. <br/>
