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AirTran Holdings Inc. Ratings Raised To 'BBB-' From 'B-' On Acquisition By Southwest Airlines; Outlook Is Stable
Standard & Poors, May 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
AirTran Holdings Inc. is being acquired by Southwest Airlines Co. in a transaction that closed May 2, 2011. We are raising our corporate credit rating on AirTran to 'BBB-' (the same as that on its new parent company) from 'B-'. We are also raising our issue-level ratings on the company's senior unsecured debt to 'BBB-' (the same as Southwest's senior unsecured debt rating) from 'CCC', since Southwest will guarantee AirTran's rated debt issues. We are removing all ratings from CreditWatch, where they were placed with positive implications on Sept. 27, 2010. The outlook is stable, consistent with our outlook on Southwest. NEW YORK (Standard & Poor's) May 2, 2011--Standard & Poor's Ratings Services said today that it has raised its...
Companies mentioned in this report are: AirTran Holdings Inc.,Southwest Airlines Co.
Action: Outlook: Stable
Action: Upgraded
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