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American Airlines Inc. Series 2011-2 Class A Pass-Through Certificates Rated 'A- (sf)' Oct 11
Standard & Poors, Oct 2011
Abstract
NEW YORK (Standard & Poor's) Oct. 4, 2011--Standard & Poor's Ratings Services said today that it has assigned its 'A- (sf)' rating to American Airlines Inc.' s series 2011-2 class A pass-through certificates with an expected maturity of Oct. 15, 2021. The final legal maturity will be 18 months after the expected maturity. The issue is a drawdown under a Rule 415 shelf registration. The 'A- (sf') rating reflects American's credit quality, substantial collateral coverage by a combination of mostly desirable legal and structural protections available to the pass-through certificates. The company will use proceeds of the offering to refinance aircraft it already owns: 16 Boeing B737-800s, 14 B757-200s, and 13 B777-200ERs. All except two B737-800s are 10-12 years old...
Companies mentioned in this report are: American Airlines Inc.,AMR Corp.,Boeing Co.,The Bank of New York Mellon Trust Co. N.A.,Morgan Stanley Bank N.A.
Action: New Rating
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.
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