Fitch Withdraws Ratings for US Airways Following Legal Merger with American
KEY RATING DRIVERS
Effective Dec. 30, 2015, US Airways Group merged with and into American Airlines Group Inc. (AAG) with AAG continuing as the surviving corporation. Likewise, US Airways, Inc. merged with and into American Airlines, Inc. (American) with American continuing as the surviving corporation.
AAG and American have assumed the debt obligations of US Airways Group and US Airways, Inc. respectively. The transaction has no effect on the currently outstanding debt issue ratings.
Fitch completed a full credit review of AAG in December 2015. There have been no material changes to the credit profile since that time. For more information please visit www.fitchratings.com.
RATING SENSITIVITIES
N/A
FULL LIST OF RATING ACTIONS
Fitch has taken the following rating actions;
US Airways Group, Inc.
--IDR affirmed at 'BB-' and withdrawn.
US Airways, Inc.
--IDR affirmed at 'BB-' and withdrawn.
Fitch currently rates American as follows:
American Airlines Group Inc.
--IDR 'BB-';
--Senior unsecured notes 'BB-/RR4' (including notes previously listed under US Airways Group, Inc.).
American Airlines, Inc.
--IDR 'BB-';
--Senior secured credit facilities 'BB+/RR1' (including credit facilities previously listed under US Airways, Inc.).
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