Moody's Ratings downgrades Alaska Air Group's issuer rating to Ba1 and assigns Baa2 rating to loyalty financing; outlook negative
Moody's Ratings (Moody's) downgraded the issuer rating of Alaska Air Group, Inc. (Alaska Air) to Ba1 from Baa3 following the company's announcement that it plans on issuing secured debt that will be used primarily to refinance certain debt of Hawaiian Holdings, Inc. (Hawaiian), likely including its ...Alaska Air Group operates two airlines, Alaska Airlines, Inc. (Alaska) and Horizon Air Industries, Inc. (Horizon). The company's operation also includes McGee Air Services, an aviation services provider. The company has three segments: Mainline, which includes scheduled air transportation on Alaska's Boeing or Airbus jet aircraft for passengers and cargo throughout the United States., and in parts of Canada, Mexico, and Costa Rica; Regional, which includes Horizon's and other third-party carriers' scheduled air transportation for passengers across a shorter distance network within the United States under capacity purchase agreements (CPA); and Horizon, which includes the capacity sold to Alaska under CPA.
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