Moody’s rates American Airlines EETCs Baa3

Moody's Investors Service said it assigned a Baa3 rating to American Airlines, Inc.'s class B pass through certificates, series 2016-2.

The certificates have a legal final maturity date of Dec. 15, 2025, and a scheduled maturity date of June 15, 2024.

The agency also affirmed the Aa3 and A2 ratings assigned to the class AA and class A certificates, respectively, of American's series 2016-2 pass through certificates, previously rated on May 2.

American Airlines Group, Inc.’s (AAL) corporate family rating is Ba3.

The outlook is stable.

Moody’s said the ratings of the certificates reflect the credit quality of American, the credit benefits of the typical features of enhanced equipment trust certificates (EETCs), including the applicability of Section 1110, cross-default and cross-collateralization of the equipment notes, separate 18-month liquidity facilities on each class, and cross-subordination pursuant to the Intercreditor Agreement.

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