| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for American Airlines Inc. > News item |
Moody's rates American Airlines notes B2
Moody's Investors Service said it assigned a B2 rating to the planned offering by American Airlines, Inc. of $1 billion of first-lien senior secured notes due 2016 secured by certain of American's route authorities, airport landing and take-off slots and rights to use or occupy space in airport terminals.
The agency said it expects the proceeds to be used for general corporate purposes, mainly the refinancing of some of the $2.5 billion of 2011's debt maturities.
AMR Corp. will guarantee, on an unsecured basis, American's obligations under the indenture, the agency said.
The agency also said it revised American Airlines' senior secured regular bond/debenture to a loss-given-default range of LGD 2, 24% to LGD 2, 25% from a range of LGD 2, 23% to LGD 2, 24%, along with the rating on its senior secured regular bond/debenture to a range of LGD 2, 24% to LGD 2, 25% from a range of LGD 2, 23% to LGD 2, 24%.
© 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.