American Airlines Inc.'s $750 Million Amended Term Loan Rated 'BB' (Recovery Rating: '1') - S&P Global Ratings’ Credit Research

American Airlines Inc.'s $750 Million Amended Term Loan Rated 'BB' (Recovery Rating: '1')

American Airlines Inc.'s $750 Million Amended Term Loan Rated 'BB' (Recovery Rating: '1') - S&P Global Ratings’ Credit Research
American Airlines Inc.'s $750 Million Amended Term Loan Rated 'BB' (Recovery Rating: '1')
Published Apr 08, 2015
3 pages (1309 words) — Published Apr 08, 2015
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (Standard&Poor's) April 8, 2015--Standard&Poor's Ratings Services today assigned its 'BB' issue-level rating and '1' recovery rating to American Airlines Inc.'s (American; B+/Positive/--) $750 million amended term loan B due Oct. 10, 2021. The term loan is guaranteed by the company's parent, American Airlines Group Inc., and its affiliates, US Airways Group Inc. and US Airways Inc. Our '1' recovery rating indicates our expectation of a "very high" (90%-100%) recovery in a default scenario. American is amending its existing $750 million term loan B that, along with a $400 million revolving credit facility due 2019, the company arranged in October 2014. We rate both of those facilities 'BB' with a '1' recovery rating. American is

  
Brief Excerpt:

...NEW YORK (Standard & Poor's) April 8, 2015--Standard & Poor's Ratings Services today assigned its '##' issue-level rating and '1' recovery rating to American Airlines Inc.'s (American; B+/Positive/--) $750 million amended term loan B due Oct. 10, 2021. The term loan is guaranteed by the company's parent, American Airlines Group Inc., and its affiliates, US Airways Group Inc. and US Airways Inc. Our '1' recovery rating indicates our expectation of a "very high" (90%-100%) recovery in a default scenario. American is amending its existing $750 million term loan B that, along with a $400 million revolving credit facility due 2019, the company arranged in October 2014. We rate both of those facilities '##' with a '1' recovery rating. American is not amending the revolving credit agreement, and the changes do not affect our existing ratings on that facility. The term loan and revolving credit facilities are currently secured by airport takeoff and landing slots, airport gate leasehold interests...

  
Report Type:

Ratings Action

Ticker
Issuer
GICS
Airlines (20302010)
Sector
Global Issuers , Public Finance , Structured Finance
Country
Region
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "American Airlines Inc.'s $750 Million Amended Term Loan Rated 'BB' (Recovery Rating: '1')" Apr 08, 2015. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-Inc-s-750-Million-Amended-Term-Loan-Rated-BB-Recovery-Rating-1-1392953>
  
APA:
S&P Global Ratings’ Credit Research. (). American Airlines Inc.'s $750 Million Amended Term Loan Rated 'BB' (Recovery Rating: '1') Apr 08, 2015. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-Inc-s-750-Million-Amended-Term-Loan-Rated-BB-Recovery-Rating-1-1392953>
  
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