American Airlines EETC Upgraded To 'A+ (sf)', Another Affirmed On Revised Counterparty Criteria - S&P Global Ratings’ Credit Research

American Airlines EETC Upgraded To 'A+ (sf)', Another Affirmed On Revised Counterparty Criteria

American Airlines EETC Upgraded To 'A+ (sf)', Another Affirmed On Revised Counterparty Criteria - S&P Global Ratings’ Credit Research
American Airlines EETC Upgraded To 'A+ (sf)', Another Affirmed On Revised Counterparty Criteria
Published Mar 27, 2019
4 pages (1745 words) — Published Mar 27, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) March 27, 2019--S&P Global Ratings today raised its issue-level rating on the US Airways Inc. (since merged into American Airlines Inc.) 2012-2 Class A enhanced equipment trust certificates (EETC) to 'A+ (sf)' from 'A' (sf). We also affirmed our 'AA' rating on American's 2015-2 Class AA EETCs, and removed the 'UCO' (under criteria observation) subscript from both ratings. The upgrade of the US Airways 2012-2A certificates was based on application of recently implemented "Counterparty Risk Framework: Methodology And Assumptions" (published March 8, 2019) criteria. Under the new criteria, the rating on a liquidity provider supporting an EETC in most instances will not constrain the issue rating on the certificates as much as under the previous

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) March 27, 2019--S&P Global Ratings today raised its issue-level rating on the US Airways Inc. (since merged into American Airlines Inc.) 2012-2 Class A enhanced equipment trust certificates (EETC) to 'A+ (sf)' from 'A' (sf). We also affirmed our '##' rating on American's 2015-2 Class ## EETCs, and removed the 'UCO' (under criteria observation) subscript from both ratings. The upgrade of the US Airways 2012-2A certificates was based on application of recently implemented "Counterparty Risk Framework: Methodology And Assumptions" (published March 8, 2019) criteria. Under the new criteria, the rating on a liquidity provider supporting an EETC in most instances will not constrain the issue rating on the certificates as much as under the previous counterparty criteria. In this case, the liquidity provider is Landesbank Hessen-Thueringen Girozentrale (A/Positive/A-1). Under the legal documentation for these EETCs, if S&P Global Ratings downgrades the bank to below...

  
Report Type:

Ratings Action

Ticker
AMR1
Issuer
American Airlines Inc.
GICS
Airlines (20302010)
Sector
Global Issuers , Public Finance , Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "American Airlines EETC Upgraded To 'A+ (sf)', Another Affirmed On Revised Counterparty Criteria" Mar 27, 2019. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-EETC-Upgraded-To-A-sf-Another-Affirmed-On-Revised-Counterparty-Criteria-2187898>
  
APA:
S&P Global Ratings’ Credit Research. (). American Airlines EETC Upgraded To 'A+ (sf)', Another Affirmed On Revised Counterparty Criteria Mar 27, 2019. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-EETC-Upgraded-To-A-sf-Another-Affirmed-On-Revised-Counterparty-Criteria-2187898>
  
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