Fitch Ratings on Tuesday upgraded Delta Air Lines’ credit rating to investment grade, citing improvements in its balance sheet in the past three years.
Mike Segar | Reuters
Fitch Ratings on Tuesday upgraded Delta Air Lines’ credit rating to investment grade, citing improvements in its balance sheet in the past three years.
The Atlanta-based carrier’s rating was cut to junk during the pandemic when a slump in air travel brought the industry to its knees. A junk credit rating makes it harder and more expensive for companies to raise capital.
After the pandemic, Delta has been focusing on paying down debt and getting back its investment-grade rating.
Fitch upgraded Delta to ‘BBB-‘ from ‘BB+’ with a stable outlook. The carrier also has an investment grade rating from Moody’s, but S&P rates it in junk territory.
Fitch said Delta’s credit metrics have improved considerably…