S&P cuts selected American Airlines certificates

S&P said it downgraded ratings on 25 American Airlines Inc.’s, enhanced equipment trust certificates, including some originally issued by U.S. Airways Inc. and America West Airlines Inc. (both since merged into American).

“The downgrades reflect mostly weak current market values for many aircraft, though the extent of the decline varies significantly by type of aircraft. The values have not necessarily declined significantly since our June 3, 2020, review of American, when we lowered the airline’s issuer credit rating to B- from B and downgraded some EETCs by more than one notch,” S&P said in a press release.

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