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Moody’s cuts Hawaiian Holdings
Moody's Investors Service said it downgraded its ratings for Hawaiian Holdings, Inc., including its corporate family rating to B1 from Ba3 and probability of default rating to B1-PD from Ba3-PD.
Moody's also downgraded subsidiary Hawaiian Airlines, Inc.'s series 2013-1 enhanced equipment trust certificate ratings to Ba2 from Ba1 for the class A and to B1 from Ba3 for the class B.
The speculative grade liquidity rating was upgraded to SGL-2 from SGL-3.
The outlook is negative.
The agency said the downgrade of Hawaiian's ratings balances the company's good liquidity against the breadth and severity of the coronavirus shock and the uncertain trends in passenger demand to, from and within Hawaii for an unknown period.
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