Fitch rates US Airways loan BB+

Fitch Ratings said it assigned a BB+/RR1 rating to US Airways, Inc.'s proposed senior secured term loan facility.

The issuer default ratings for US Airways and parent company US Airways Group, Inc. remain unchanged at B+ with positive outlooks.

The new credit facility will be secured by a first-priority perfected security interest in all of the appraised collateral securing the existing term loan, collateral supporting the smaller loans being refinanced, and some additional assets being added to enhance the collateral package for the new term loans.

The collateral package includes certain real estate, spare engines, spare parts, aircraft, Reagan National Airport and LaGuardia Airport slots and gates, ground service equipment, flight simulators, slots and gates at Heathrow Airport, and US Airways' Heathrow routes, as well as restricted cash and eligible accounts receivable.

Fitch said the BB+ rating is supported by the expected recovery from the collateral securing the facility and by US Airways Group's B+ issuer default rating.

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