Moody’s rates American Airlines EETCs Ba3

Moody's Investors Service said it assigned a Ba3 rating to the new $100 million class C enhanced equipment trust certificates, series 2012-2C(R) due June 3, 2023 of American Airlines, Inc.

Proceeds will be used to refinance the existing class C certificates of US Airways series 2012-2 EETC, which mature on June 3.

Moody's also affirmed its A3 and Ba1 ratings assigned to the class A and class B certificates, respectively.

The Ba3 corporate family rating and stable outlook of American Airlines Group Inc. are unaffected.

The agency said the ratings reflect the credit quality of American and the typical benefits of EETCs, including the applicability of Section 1110, cross-default and cross-collateralization of the equipment notes, 18-month liquidity facilities on the class A and class B series of certificates and cross-subordination under the intercreditor agreement.

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