S&P ups America West pass-throughs to A+

S&P said it raised its issue-level rating on America West Airlines Inc.'s (now part of American Airlines Inc.) series 2000-1G pass-through certificates to A+ from A.

This upgrade is based on the Dec. 16 upgrade of Citibank NA to A+ from A, S&P said.

Citibank provides a liquidity facility that supports the certificates (which are a form of enhanced equipment trust certificates) and, under the agency’s counterparty criteria, the rating on the certificates cannot be higher than the rating on the liquidity provider.

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