Moody’s: American Airlines pass-throughs Aa3, A2

Moody's Investors Service said it assigned an Aa3 rating to American Airlines, Inc.'s pass through certificates, series 2016-3: $557.654 million class AA maturing April 15, 2030, and an A2 rating to the $256.143 million class A maturing April 15, 2030.

The scheduled maturity dates precede the respective legal final maturity dates by 18 months. Oroceeds will finance 24 aircraft delivered new to American between September 2016 and January 2017 and one aircraft delivered in March 2016.

American Airlines Group, Inc.’s (AAL) corporate family rating is Ba3.

The outlook on the certificates and on AAL, including American Airlines, is stable.

Moody’s said the ratings of the certificates reflect the credit quality of American, the credit benefits of the typical features of Enhanced Equipment Trust Certificates, including the applicability of Section 1110, cross-default and cross-collateralization of the equipment notes, separate 18-month liquidity facilities on each class, and cross-subordination pursuant to the Intercreditor Agreement.

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