Moody's cuts EETC ratings

Moody's Investors Service said it downgraded its ratings for one or more classes across 41 different series of Enhanced Equipment Trust Certificates following a review of 50 of the 57 separate EETC series transactions Moody's rates.

This debt has been issued from 1999-2020, each transaction on behalf of one of nine independently-rated airlines – Air Canada, American Airlines, Inc., British Airways, plc, Delta Air Lines, Inc., Hawaiian Airlines, Inc., JetBlue Airways, Latam Airlines Group SA; Norwegian Air Shuttle ASA, or United Airlines, Inc.

“Today's rating actions do not affect any of Moody's other ratings for these issuers. All of Moody's EETC ratings, and all other published ratings assigned to these companies or other members in their respective families, remain on review for downgrade, except the outlooks on the Norwegian Air Shuttle EETCs are negative,” the agency said.

Air Canada 2013-1 Pass-Through Trusts

Senior Secured Enhanced Equipment Trust Ser. 2013-1 class A, downgraded to Baa2 from A3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2013-1 class B, downgraded to Ba2 from Baa2; placed under review for further downgrade

Air Canada Series 2015-2 Pass-Through Trusts

Senior Secured Enhanced Equipment Trust Ser. 2015-2 class A, downgraded to A3 from A1; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2015-2 class AA, downgraded to A1 from Aa2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2015-2 class B, downgraded to Baa2 from Baa1; placed under review for further downgrade

Air Canada Series 2017-1 Pass-Through Trusts

Senior Secured Enhanced Equipment Trust Ser. 2017-1 class A, downgraded to A3 from A1; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2017-1 class AA, downgraded to A1 from Aa2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2017-1 class B, downgraded to Baa2 from Baa1; Placed Under Review for further Downgrade

British Airways Pass Through Trust 2018-1AA

Senior Secured Enhanced Equipment Trust, downgraded to Aa3 from Aa2; placed under review for further downgrade

British Airways Pass Through Trust 2019-1AA

Senior Secured Enhanced Equipment Trust, downgraded to Aa3 from Aa2; placed under review for further downgrade

Hawaiian Airlines, Inc.

Senior Secured Enhanced Equipment Trust Ser. 2013-1 class A, downgraded to Ba1 from Baa1; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2013-1 class B, downgraded to Ba3 from Ba2; placed under review for further downgrade

JetBlue Airways Corp.

Senior Secured Enhanced Equipment Trust Ser. 2019-1 class A, downgraded to A3 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2019-1 class AA, downgraded to A1 from Aa3; placed under review for further downgrade

Latam Pass-Through Trust 2015-1A

Senior Secured Enhanced Equipment Trust, downgraded to Baa2 from Baa1; placed under review for further downgrade

Speedbird 2013 Ltd.

Senior Secured Enhanced Equipment Trust Ser. 2013 class A, downgraded to A3 from A1; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2013 class B, downgraded to Baa1 from A3; placed under review for further downgrade

American Airlines, Inc.

Senior Secured Enhanced Equipment Trust Ser. 2011-1 class A, downgraded to Baa3 from A3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2012-2 class C, downgraded to B2 from Ba3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2015-2 class A, downgraded to Baa2 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2015-2 class AA, downgraded to A2 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-1 class A, downgraded to Baa2 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-1 class AA, downgraded to A2 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-2 class A, downgraded to Baa2 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-2 class AA, downgraded to A2 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-3 class A, downgraded to Baa2 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-3 class AA, downgraded to A2 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2017-1 class A, downgraded to Baa2 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2017-1 class AA, downgraded to A2 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2017-2 class A, downgraded to Baa2 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2017-2 class AA, downgraded to A2 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2019-1 class A, downgraded to Baa2 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2019-1 class AA, downgraded to A2 from Aa3; placed under review for further downgrade

Delta Air Lines, Inc.

Senior Secured Enhanced Equipment Trust Ser. 2007-1 class A, downgraded to Baa2 from A3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2007-1 class B, downgraded to Ba1 from Baa2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2012-1 class A, downgraded to A3 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2015-1 class A, downgraded to Baa1 from A1; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2015-1 class AA, downgraded to A2 from Aa2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2015-1 class B, downgraded to Baa2 from Baa1; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2019-1 class AA, downgraded to A1 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2020-1 class AA, downgraded to A1 from Aa3; placed under review for further downgrade

United Airlines, Inc.

Senior Secured Enhanced Equipment Trust Ser. 2001-A1 class A, downgraded to Baa1 from A3; placed under review for further downgrade

Senior Secured Equipment Trust Ser. 2007-1 class A, downgraded to Baa3 from Baa1; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2010-1 class A, downgraded to Baa3 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2012-1 class A, downgraded to Baa2 from A3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2012-2 class A, downgraded to Baa2 from A3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2012-2 class B, downgraded to Baa3 from Baa2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2015-1 class A, downgraded to Baa1 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2015-1 class AA, downgraded to A1 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-1 class A, downgraded to Baa1 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-1 class AA, downgraded to A1 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-2 class A, downgraded to Baa1 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2016-2 class AA, downgraded to A1 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2018-1 class A, downgraded to Baa1 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2018-1 class AA, downgraded to A1 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2019-1 class A, downgraded to Baa1 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2019-1 class AA, downgraded to A1 from Aa3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2019-2 class A, downgraded to Baa1 from A2; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2019-2 class AA, downgraded to A1 from Aa3; placed under review for further downgrade

US Airways, Inc.

Senior Secured Enhanced Equipment Trust Ser. 2001-1 class G, downgraded to Baa2 from Baa1; placed under review for further downgrade

Underlying Senior Secured Enhanced Equipment Trust Ser. 2001-1 class G, downgraded to Baa2 from Baa1; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2010-1 class A, downgraded to Baa3 from A3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2011 class A, downgraded to Baa3 from A3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2012-1 class A, downgraded to Baa1 from A3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2012-2 class A, downgraded to Baa3 from A3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2013-1 class A, downgraded to Baa3 from A3; placed under review for further downgrade

NAS Enhanced Pass-Through Certificate 2016-1A

Senior Secured Enhanced Equipment Trust, downgraded to B2 from Ba1

NAS Enhanced Pass-Through Certificate 2016-1B

Senior Secured Enhanced Equipment Trust, downgraded to Caa2 from B2

US Airways, Inc.

Senior Secured Enhanced Equipment Trust Ser. 2000-3 Class C, upgraded to Ba1 from Ba3; placed under review for further downgrade

Senior Secured Enhanced Equipment Trust Ser. 2001 Class C, upgraded to Ba1 from Ba3; placed under review for further downgrade

NAS Enhanced Pass-Through Certificate 2016-1A, outlook, changed to negative from stable

NAS Enhanced Pass-Through Certificate 2016-1B, outlook, changed to negative from stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.