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S&P: American Airlines pass-throughs BBB
S&P said it assigned its BBB (sf) issue-level rating to American Airlines Inc.'s series 2016-3 class B pass-through certificates with an expected maturity date of Oct. 15, 2025.
The final legal maturity will be 18 months after the expected maturity.
The class B certificates being rated rank junior to the outstanding class AA and class A certificates, and are secured by the same aircraft collateral.
“We base our ratings on these issues on the credit quality of American Airlines' parent, American Airlines Group Inc. (BB-/stable/--), the substantial collateral coverage by good-quality aircraft, and the legal and structural protections available to the certificates,” the agency said in a news release.
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