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Moody's: US Airways certificates B3
Moody's Investors Service said it assigned a B3 rating to the class C pass through certificates, series 2012-2 of the 2012-2 pass through trusts that US Airways, Inc. plans to create.
The corporate family rating of US Airways Group, Inc. is B3.
The outlook is stable.
In a related action, Moody's affirmed the existing Ba1 and B1 ratings previously assigned to the A and B tranches, respectively, of US Airways' series 2012-2 enhanced equipment trust certificates, which the company offered on Nov. 29, 2012.
The class A, class B and class C equipment notes issued by US Airways and acquired with the proceeds of the certificates will be the primary assets of the pass through trusts. The 2012-2 EETC of US Airways finances eleven aircraft, including seven Airbus A321-200s and four Airbus A330-200s, each to be delivered new in 2013.
The class C certificates have the most junior claim against the assets of the respective pass through trusts including via the cross-subordination provisions of the inter-creditor agreement, the agency said.
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