...October 27, 2021 NEW YORK (S&P Global Ratings) Oct. 27, 2021--S&P Global Ratings today assigned its preliminary '##+ (sf)' issue-level rating to American Airlines Inc.'s series 2021-1 Class B pass-through enhanced equipment trust certificates (EETCs). We earlier assigned our preliminary 'A- (sf)' issue-level rating to American Airlines' 2021-1 Class A pass-through EETCs, which rank senior to the Class B certificates and are secured by the same collateral. American Airlines plans to finance 21 new aircraft and refinance five existing aircraft with about $757.8 million of Class A certificates and $202.1 million of Class B certificates. The Class B certificates have an expected final distribution date of July 11, 2030, with legal final maturity occurring 18 months later. The transaction will be backed by 21 new Airbus A321neo and five Embraer E175LR aircraft--with the Airbus aircraft to be delivered between January and September 2022. The E175LR aircraft were delivered in 2020. We view these...
