DELTA AIR LINES, INC. — Form 10-Q
Filed July 10, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 28/100
What the filing says
On April 24, 2026, Delta and SkyMiles IP Ltd. (a Cayman Islands borrower) executed a third amendment to their September 2020 term loan credit agreement with Barclays Bank PLC. The amendment refinances $585,223,486.34 of outstanding term loans, reducing the applicable margin from 1.50%/0.50% to 1.25%/0.25%. Additionally, on June 11, 2026, Delta entered a new $2.65B revolving credit facility ($1.325B three-year, $1.325B five-year) with multiple lenders to refinance its existing credit agreement.
Why this rating
Routine debt refinancing with improved pricing terms. Immaterial relative to $32.1B market cap; no operational or strategic change.
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