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Moody's upgrades US Airways
Moody's Investors Service said it raised the following debt ratings of US Airways Group, Inc.: corporate family and probability of default ratings to B3 from Caa1; senior secured first-lien term loan due 2014 to B2 from B3; and senior unsecured to Caa2 from Caa3.
Moody's said it raised its ratings by one notch on certain of the company's enhanced equipment trust certificates issued by US Airway's subsidiaries, US Airways, Inc. or US Airways, LLC and affirmed the SGL-3 speculative grade liquidity rating.
The outlook is stable.
The upgrade of the ratings anticipates that US Airways will sustain the improved operating performance of recent quarters that has led to a higher cash balance and stronger credit metrics, the agency said.
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