American Airlines' Revolving Credit Rated 'BB+'; Recovery Rating '1'; Term Loan Ratings Affirmed - S&P Global Ratings’ Credit Research

American Airlines' Revolving Credit Rated 'BB+'; Recovery Rating '1'; Term Loan Ratings Affirmed

American Airlines' Revolving Credit Rated 'BB+'; Recovery Rating '1'; Term Loan Ratings Affirmed - S&P Global Ratings’ Credit Research
American Airlines' Revolving Credit Rated 'BB+'; Recovery Rating '1'; Term Loan Ratings Affirmed
Published Sep 01, 2017
6 pages (2417 words) — Published Sep 01, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Sept. 1, 2017--S&P Global Ratings today assigned its 'BB+' issue-level and '1' recovery ratings to American Airlines Inc.'s $1.2 billion revolving credit due Oct. 13, 2022, secured principally by American's international route rights to Latin America; its $1 billion revolving credit due Oct. 13, 2022, secured principally by its takeoff and landing slots at London's Heathrow International Airport; and its new $300 million revolving credit due Oct. 13, 2022, secured by aircraft spare parts. The first two revolving credits are extensions of existing credit facilities. We affirmed our 'BB+' issue-level and '1' recovery ratings on the $1.9 billion term loan also secured by the Latin American routes, the $750 million term loan also secured by

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) Sept. 1, 2017--S&P Global Ratings today assigned its '##+' issue-level and '1' recovery ratings to American Airlines Inc.'s $1.2 billion revolving credit due Oct. 13, 2022, secured principally by American's international route rights to Latin America; its $1 billion revolving credit due Oct. 13, 2022, secured principally by its takeoff and landing slots at London's Heathrow International Airport; and its new $300 million revolving credit due Oct. 13, 2022, secured by aircraft spare parts. The first two revolving credits are extensions of existing credit facilities. We affirmed our '##+' issue-level and '1' recovery ratings on the $1.9 billion term loan also secured by the Latin American routes, the $750 million term loan also secured by the Heathrow slots, and the $1 billion term loan also secured by the aircraft spare parts. We base our ratings on the credit quality of American Airlines' parent, American Airlines Group Inc. (##-/Stable/--), and our analysis...

  
Report Type:

Ratings Action

Ticker
Issuer
GICS
Airlines (20302010)
Sector
Global Issuers , Public Finance , Structured Finance
Country
Region
Format:
PDF Adobe Acrobat
Buy Now

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' Revolving Credit Rated 'BB+'; Recovery Rating '1'; Term Loan Ratings Affirmed" Sep 01, 2017. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-Revolving-Credit-Rated-BB-Recovery-Rating-1-Term-Loan-Ratings-Affirmed-1909535>
  
APA:
S&P Global Ratings’ Credit Research. (). American Airlines' Revolving Credit Rated 'BB+'; Recovery Rating '1'; Term Loan Ratings Affirmed Sep 01, 2017. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-Revolving-Credit-Rated-BB-Recovery-Rating-1-Term-Loan-Ratings-Affirmed-1909535>
  
US$ 150.00
$  £  
Have a Question?

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

More Research

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