Moody's downgrades AMR, Delta credit ratings

[dbaker]

Moody's downgrades AMR, Delta credit ratings

NEW YORK, Dec 18 (Reuters) - U.S. airlines faced further woes on Tuesday after Moody's Investors Service downgraded its credit rating on two leading carriers, sending them deeper into junk territory, citing the poor outlook after the Sept. 11 attacks on the United States.

Moody's downgraded its rating on debt issued by the world's largest carrier American Airlines Inc. and its parent company, AMR Corp(NYSE:AMR - news). It also cut its rating of Delta Air Lines Inc.(NYSEAL - news), the third largest U.S. carrier.

Both airlines were already rated as junk, with Delta now slipping to the middle of those rankings and American edging down from the upper levels of speculative grade debt category.

[dbaker]

Moody's downgrades AMR, Delta credit ratings

NEW YORK, Dec 18 (Reuters) - U.S. airlines faced further woes on Tuesday after Moody's Investors Service downgraded its credit rating on two leading carriers, sending them deeper into junk territory, citing the poor outlook after the Sept. 11 attacks on the United States.

Moody's downgraded its rating on debt issued by the world's largest carrier American Airlines Inc. and its parent company, AMR Corp(NYSE:AMR - news). It also cut its rating of Delta Air Lines Inc.(NYSEAL - news), the third largest U.S. carrier.

Both airlines were already rated as junk, with Delta now slipping to the middle of those rankings and American edging down from the upper levels of speculative grade debt category.