Moody's assigns United Airlines notes Ba1

Moody's Investors Service said it assigned Ba1 ratings to United Airlines, Inc.'s new senior secured notes due 2023 and 2025.

United intends to use the proceeds to retire its $2 billion credit facility it entered on March 9, and the remainder for general corporate purposes.

Parent, United Airlines Holdings, Inc. will guarantee the new notes.

“The issuance of these new notes does not affect Moody's Ba2 corporate family or any other of the ratings, including enhanced equipment trust certificate ratings, assigned to United, all of which remain on review for downgrade,” Moody’s said in a press release.

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