Fitch acts on American Air certificates

Fitch Ratings said it upgraded American Airlines 2017-2 class AA certificates to AA- from A+ and the class A certificates to A from A-, the 2015-1 and 2014-1 to BBB from BB+ and 2013-1 to BB from B+.

“The upgrade is driven by sufficient LTV headroom in the rating levels in conjunction with an improvement in the airline obligor credit profile, evidenced by Fitch's recent upgrade of American Airlines' issuer default rating (IDR) to B+ from B-,” the agency said in a press release.

Fitch also raised the class B certificates for the 2021-1, 2017-2, and 2017-1 trusts to BBB from BB+.

American’s improved IDR supports the upgrades. “Fitch's assessment of the transactions' affirmation factors, liquidity facility uplift and recovery prospects are unchanged,” the agency said.

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