S&P ups Hawaiian Holdings

S&P said it upgraded Hawaiian Holdings Inc.’s issuer rating to B- from CCC+ and its 2013-1 class A enhanced equipment trust certificates to B from B-. The agency withdrew its rating on the company's class B EETCs since they were fully repaid in January.

“We expect Hawaiian's performance in 2022 to benefit from strong domestic leisure demand, particularly over the summer. However, recovery of Hawaiian's international operations remains largely tied to Covid-19-related international travel restrictions in Japan and a few other Asian countries, although travel to some of its international destinations has recently commenced,” the agency said in a press release.

S&P said it sees Hawaiian’s credit measures remaining weak this year, but improving in 2023.

The outlook is stable.

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