Delta Air Lines faces another possible downgrade of its debt obligations after Standard & Poor's on Friday "revised the implications of its CreditWatch review of ratings on Delta to 'developing' from 'positive,'" citing liquidity concerns. According to S&P analyst Philip Baggaley, the change "reflects renewed pressure on Delta's liquidity from sharply higher fuel prices" that could add up to $1 billion to operating costs this year. The additional fuel expense may offset completely ...

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