Fitch Ratings drops its credit default rating on Delta Air Lines (NYSE:DAL) to BB+ from BBB- and assigns a Negative outlook. Some key snippets from the ratings agency's report are posted below.

"Though Delta remains a stronger credit than its network peers, debt raised to sustain liquidity through the pandemic will drive credit metrics outside of a range supportive of investment-grade ratings at least through 2021 and likely into 2022."

"Delta has already taken significant actions to raise liquidity as demand has fallen, and Fitch believes that the company will have sufficient liquidity when paired with government grants to manage through the crisis."

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