Moody’s reviews Delta Air for cut

Moody’s Investors Service said it placed its ratings for Delta Air Lines, Inc., including the company’s Baa3 senior unsecured rating, on review for downgrade.

The agency cited the coronavirus outbreak, the deteriorating global economic outlook, falling oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented.

The passenger airline sector has been one of the sectors most significantly affected by the shock given its exposure to travel restrictions and sensitivity to consumer demand and sentiment. The review reflects the effect on Delta of the breadth and severity of the shock, the broad deterioration in credit quality it has triggered, and high-level lingering uncertainty, Moody’s said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.