S&P: Hawaiian Airlines certificates BBB+, BB-

Standard & Poor's said it assigned its BBB+ (sf) rating to Hawaiian Airlines Inc.'s $328.26 million 2013-1 class A pass-through certificates with an expected maturity of Jan. 15, 2026.

At the same time, S&P assigned its BB- (sf) rating to the $116.28 million class B pass-through certificates with an expected maturity of Jan. 15, 2022.

The final legal maturities will be 18 months after the expected maturity. The issues are drawdowns under a Rule 415 shelf registration.

"We base the ratings on Hawaiian Airlines' credit quality, substantial collateral coverage by good quality aircraft, and on legal and structural protections available to the pass-through certificates," S&P credit analyst Betsy Snyder said in a news release.

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