...July 23, 2019 NEW YORK (S&P Global Ratings) July 23, 2019--S&P Global Ratings today raised its issue-level ratings on selected enhanced equipment trust certificates (EETCs) from American Airlines Inc. to reflect changes in its view of the likelihood that the airline would agree to continue paying these obligations in a hypothetical future bankruptcy or if the certificates' collateral coverage changed. Specifically, we raised our ratings on American's series 2013-1 class A and B certificates to 'A+' from 'A' and '###' from '###-', respectively, and raised our ratings on US Airways Inc.'s (which has since merged with American) series 2000-3 class C and 2001-1 class C to '###' from '###-'. Our ratings on EETCs are almost always higher than the issuer credit rating on an airline because a default on the certificates occurs only if the airline enters bankruptcy, the airline either liquidates or reorganizes but rejects the secured aircraft debt or leases that collateralize the rated certificates,...
