Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research American Airlines Inc.

American Airlines Inc.'s New $750 Million Term Loan B Rated 'BB+' (Recovery Rating: '1'); Other Ratings Affirmed

Published Apr 18, 2016

3 pages (1369 words) — Published Apr 18, 2016

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

American Airlines Inc. is arranging a $750 million secured term loan B due 2023 to refinance the existing 2013 term loan B-2 originally arranged by US Airways Inc., which matures in November 2016. The new term loan is secured by aircraft spare parts that support American Airlines' fleet (including the former US Airways). We are assigning our 'BB+' issue-level rating and '1' recovery rating to the new term loan B. At the same time, we are affirming our 'BB+' issue-level ratings on American's other term loans and bank credit facilities. We are also affirming our 'B+' issue-level ratings on the senior unsecured debt of American's parent, American Airlines Group Inc. NEW YORK (Standard&Poor's) April 18, 2016--Standard&Poor's

Brief Excerpt:

...+ American Airlines Inc. is arranging a $750 million secured term loan B due 2023 to refinance the existing 2013 term loan B-2 originally arranged by US Airways Inc., which matures in November 2016. + The new term loan is secured by aircraft spare parts that support American Airlines' fleet (including the former US Airways). + We are assigning our '##+' issue-level rating and '1' recovery rating to the new term loan B. + At the same time, we are affirming our '##+' issue-level ratings on American's other term loans and bank credit facilities. + We are also affirming our 'B+' issue-level ratings on the senior unsecured debt of American's parent, American Airlines Group Inc. NEW YORK (Standard & Poor's) April 18, 2016--Standard & Poor's Ratings Services said today that it has assigned its '##+' issue-level rating and '1' recovery rating to American Airlines Inc.'s $750 million seven-year term loan B due 2023. The '1' recovery rating on the loan indicates our expectation of high (90%-100%)...

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:

PDF

American Airlines' 2016-2 Class AA And A Pass-Through Certificates Assigned Preliminary 'AA (sf)' And 'A (sf)' Ratings – 2016/05/02 – US$ 150.00

American Airlines' Series 2016-2 Class AA And A Pass-Through Certificates Assigned 'AA (sf)' And 'A (sf)' Issue Ratings – 2016/05/13 – US$ 150.00

American Airlines Inc.'s JFK Airport Revenue Refunding Bonds Series 2016 Rated 'BB-' – 2016/05/26 – US$ 150.00

American Airlines Inc.'s Series 2016-2 Class B Pass-Through Certificates Assigned Preliminary 'BBB (sf)' Rating – 2016/06/26 – US$ 150.00

American Airlines Inc.'s Series 2016-1 And Series 2016-2 Class AA Pass-Through Certificate Ratings Raised To 'AA+ (sf)' – 2016/07/05 – US$ 150.00

Research Update: American Airlines Inc.'s New $750 Million Term Loan B Rated 'BB+' (Recovery Rating: '1'); Other Ratings Affirmed – 2016/04/18 – US$ 225.00

American Airlines' Series 2016-1 Pass-Through Certificates Assigned 'AA (sf)', 'A (sf)', And 'BBB (sf)' Issue Ratings – 2016/01/15 – US$ 150.00

American Airlines' 2016-1 Pass-Through Certificates Assigned Preliminary 'AA (sf)', 'A (sf)', And 'BBB (sf)' Ratings – 2016/01/12 – US$ 150.00

American Airlines Inc.'s 2015-2 Pass-Through Certificates Assigned 'AA (sf)', 'A (sf)', And 'BBB (sf)' Ratings – 2015/09/23 – US$ 150.00

American Airlines Inc. 2015-2 Pass-Through Certificates Assigned Preliminary 'AA (sf)', 'A (sf)', And 'BBB (sf)' Ratings – 2015/09/10 – US$ 150.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "American Airlines Inc.'s New $750 Million Term Loan B Rated 'BB+' (Recovery Rating: '1'); Other Ratings Affirmed" Apr 18, 2016. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-Inc-s-New-750-Million-Term-Loan-B-Rated-BB-Recovery-Rating-1-Other-Ratings-Affirmed-1617940>

APA:	S&P Global Ratings’ Credit Research. (). American Airlines Inc.'s New $750 Million Term Loan B Rated 'BB+' (Recovery Rating: '1'); Other Ratings Affirmed Apr 18, 2016. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-Inc-s-New-750-Million-Term-Loan-B-Rated-BB-Recovery-Rating-1-Other-Ratings-Affirmed-1617940>

US$ 150.00

$ £ €

Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.