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Moody's gives British Airways notes A2, Baa2
Moody's Investors Service said it assigned British Airways Pass-Through Trust 2021-1A class A certificates an A2 rating and its British Airways Pass-Through Trust 2021-1B, class B certificates a Baa2 rating. The airline sold about $461 million of the class A notes and about $92 million of the class B certificates.
The final legal maturity dates are Sept. 15, 2036, and March 15, 2033, for the class A and class B, respectively.
“The Ba2 corporate family rating and negative outlook assigned to BA are unaffected by the issuance of this new series of enhanced equipment trust certificates (EETCs). The ratings assigned to BA's other EETCs are also unaffected,” Moody’s said in a press release.
The proceeds will help fund the purchase of seven aircraft newly manufactured for British Airways plc.
The outlook is negative.
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