Delta returns to ‘Investment Grade Status’ after FitchuUpgrade
by Bloomberg Jul 16, 2024
Fitch Ratings raised Delta Air Lines Inc. out of junk territory, making the carrier a so-called rising star with a second investment-grade rating.
Delta was upgraded a notch to BBB- on Tuesday, with Fitch saying the carrier’s credit metrics “improved considerably after the pandemic.” It reduced gross debt and operating leases by some $11 billion the past three years.
The company was downgraded to junk by Fitch and S&P Global Ratings in 2020, when the pandemic wreaked havoc on the travel industry. S&P still has Delta at its highest junk rating, while Moody’s Ratings has the airline at Baa3, its lowest rung of investment grade.
©2024 Bloomberg L.P.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
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