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The decision comes at a time when U.S. airlines are cutting capacity and slashing profit forecasts.
American Airlines is raising $1.14 billion via aircraft-backed securities for fleet and refinancing.
KEY POINTS
- Proceeds will fund 17 new planes and refinance loans on 15 existing aircraft.
- S&P assigned an 'A' rating to the $905 million tranche and 'BBB' to the $235.8 million tranche.
- American Airlines' corporate credit rating remains B+, lower than the new security tranches.
COMPANIES
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