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Strategies & Market Trends : Aardvark Adventures

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Dec 11 3:59 PM EST

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To: ~digs who wrote (1322)	9/12/2005 10:17:15 PM
From: ~digs	of 7944

Moody's Investors Service after Monday's closing bell downgraded Delta Air Lines Inc.'s ratings, including its corporate family rating to Caa2 from Caa1 and its senior unsecured rating to C from Ca. Moody's also affirmed Delta's speculative grade liquidity rating at SGL-4. The outlook is negative. Moody's said the downgrades reflect the likelihood that Delta will need to reorganize its obligations, either in or out of bankruptcy proceedings, as a result of the difficult operating environment and the company's limited access to external sources of liquidity and increasing demands on its cash. As a result of Delta's substantial ongoing operating losses, and its large near-term debt maturities, pension obligations, and capital expenditures, the company's cash position is likely to deteriorate significantly, the agency said. stockcharts.com[w,a]daclyiay[pc40!c200!f][vc60][iut!La12,26,9!Ll14]&pref=G

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