Delta achieved yet another noteworthy financial feat when Moody’s Ratings, one of the leading credit rating agencies, raised its rating based on the airline’s robust performance and favorable financial outlook.

This latest upgrade marks the third time in eight months that Delta has seen its ratings improve, underscoring the airline’s commitment to enhancing its financial stability.

Following the pandemic, Moody’s was the sole agency to uphold an investment-grade rating for Delta. S&P Global Ratings and Fitch Ratings have recently joined in affirming Delta’s credit as investment grade.

“It’s gratifying to have Delta’s credit raised a notch above investment grade, as we work to make our 100th year the best in our history,” said Delta CFO Dan Janki. “This achievement is thanks to the outstanding work of our team, who continue to differentiate us from the competition and lead our industry as we reduce debt and strengthen our financial foundation.”

Moody’s highlighted Delta’s enhanced operations, positive cash flow, and debt management, attributing these advancements to factors such as moderated growth capacity in the U.S. market, a surge in international demand, and a strong brand loyalty program.

“Delta’s business profile—characterized by its strong consumer brand, extensive global network, competitive performance, and strong cash flows from its relationship with American Express—is strong,” noted the agency’s report.

Moreover, Delta’s financial standing distinguishes it from competitors as it is one of only two airlines in its category to hold an investment-grade rating from all three major agencies, reinforcing confidence in the resilience of its operations.