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S&P affirms AIR 2 US
Standard & Poor's said it affirmed Air 2 US LLC's BB- rating on the series A enhanced equipment notes and the B- rating on the series B notes. Ratings were placed on CreditWatch June 3, following the review on American Airlines Inc. (B-/negative) and United Air Lines Inc. (B-/negative).
The agency said it lowered ratings on American and United on July 25 but its review of the Air 2 US notes concluded that the collateral coverage was sufficiently conservative to justify maintaining current ratings, despite the increased default risk of American and United.
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