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S&P rates Latam Airlines class C pass-throughs BB
S&P said it assigned its BB(sf) rating to Latam Airlines Group SA's series 2015-1 class C pass-through certificates with an expected maturity of May 15, 2023.
The BBB+(sf) rating on class A pass-through certificates, and the BB+(sf) rating on class B pass-through certificates are not affected by the proposed class C certificates.
The rating is based on the consolidated credit quality of Latam Airlines Group (BB-/stable/--), the adequate collateral coverage because the assets have good quality and market liquidity and the legal and structural protections available to the pass-through certificates, the agency said.
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