Fitch upgrades Delta Air Lines to ‘BBB-‘; Outlook Stable

Fitch Ratings has upgraded Delta Air Lines’ Long-Term Issuer Default Rating (IDR) to ‘BBB-‘ from ‘BB+’. Fitch has also upgraded Delta’s Seattle project bonds to ‘BBB-‘ from ‘BB+’ and affirmed the 2007-1 Class A certificates at ‘BBB+’. The Rating Outlook is Stable. The upgrades reflect the material improvements in Delta’s credit profile in recent years as the company has paid down debt, improved profitability, and firmly established its ability to generate meaningful free cash flow (FCF). Reducing the level of risk in the business has been a major focus for Delta in recent years, and that has translated into consistently