Fitch: Hawaiian Holdings convertibles B-, Airlines' loan BB

Fitch Ratings said it assigned B initial issuer default ratings to Hawaiian Holdings, Inc. and its subsidiary Hawaiian Airlines, Inc.

Fitch also assigned a B-/RR5 rating to Hawaiian Holdings' senior unsecured convertible notes and a BB/RR1 rating to Hawaiian Airlines' senior first-lien secured credit facility.

The outlook is stable.

Fitch said the ratings reflect Hawaiian Holdings' strong brand and reputation in the market for travel to and from Hawaii, one of the world's leading vacation destinations; dominant share (88%) of the Neighbor Island airline market; solid liquidity position; healthy EBITDAR margins; and credit metrics that Fitch considers in line with the ratings.

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