Moody's assigns Ba3 rating to American's new senior secured term loan and senior secured notes
Rating Action: Moody's assigns Ba3 rating to American's new senior secured term loan and senior secured notes. Global Credit Research- 22 Jun 2020. New York, June 22, 2020-- Moody's Investors Service assigned a Ba3 rating to American Airlines, Inc.' s new senior secured term loan due in 2024 and to the new senior secured notes due in 2025 that American Airlines Group Inc. announced on June 21, 2020. The proceeds will be used for general corporate purposes, including the repayment of the...American Airlines Group is a holding company. Through its subsidiaries, the company's business activity is the operation of a primary network carrier, providing scheduled air transportation for passengers and cargo. The company's regional carriers provide scheduled air transportation under American Eagle. The American Eagle carriers include the company's regional carriers Envoy Aviation Group Inc., PSA Airlines, Inc. and Piedmont Airlines, Inc., as well as third-party regional carriers including Republic Airline Inc., Mesa Airlines, Inc., SkyWest Airlines, Inc. and Compass Airlines, LLC. The company's cargo division provides freight and mail services, with facilities and interline connections available across the globe.
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