Moody's considers Hawaiian Holdings for trim

Moody's Investors Service said it placed its debt ratings of Hawaiian Holdings, Inc. and its subsidiary Hawaiian Airlines, Inc., including the Ba3 corporate family rating and the only instrument Moody's rates, Hawaiian's series 2013-1 enhanced equipment trust certificates, on review for downgrade. The speculative grade liquidity rating was downgraded to SGL-3 from SGL-1.

The agency cited the rapid and widening spread of the coronavirus outbreak, the deteriorating global economic outlook, falling oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets.

Like other airlines, Hawaiian is vulnerable to shifts in market sentiment in these unprecedented operating conditions, and the company remains vulnerable to the outbreak continuing to spread.

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