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Moody’s lowers Latam 2015-1 EETC
Moody’s Investors Service said it downgraded its ratings of the enhanced equipment trust certificates of Latam Airlines Group, SA, Latam pass-through certificates, series 2015-1: class A issued by Latam Pass-Through Trust 2015-1A to B3 from Baa2 and Class B issued by Latam Pass-Through Trust 2015-1B to Ca from Ba1.
Moody’s cut Latam to Ca on Tuesday following its filing for reorganization under Chapter 11 of the U.S. Bankruptcy Code earlier that day and then withdrew the rating.
The outlook on the EETC issuers and the EETC ratings is negative.
The EETC downgrades finish the review for downgrade started on March 17 and continued on May 6, Moody’s said.
The company rejected the certificates in its bankruptcy filing, the agency said.
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