Fitch Affirms 2 U.S. Transportation and Aerospace & Defense Companies

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings has affirmed and assigned the following Recovery Ratings (RRs) to Transportation and Aerospace & Defense Companies with 'BB' category Issuer Default Ratings (IDRs):

Delta Air Lines

--IDR at 'BB';

--Senior secured notes 'BB+/RR1'.

The Rating Outlook is Positive.

Huntington Ingalls Industries

--IDR at 'BB+';

--Senior secured debt 'BBB-/RR1';

--Senior unsecured debt 'BB+/RR4';

The Rating Outlook is Stable.

The assignment of the Recovery Ratings reflects Fitch's 'Recovery Ratings and Notching Criteria for Non-Financial Corporates issuers' (dated Nov. 18, 2014), which allows for the assignment of Recovery Ratings for issuers with IDRs in the 'BB' category.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Corporate Rating Methodology' (May 28, 2014).

Applicable Criteria and Related Research:

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749393

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=983472

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Fitch Ratings
Committee Chairperson
Michael Weaver
Managing Director
+1-312-368-3156
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Media Relations
Alyssa Castelli, +1 212-908-0540
[email protected]
Elizabeth Fogerty, +1 212-908-0526
[email protected]

Source: Fitch Ratings

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