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Article: Fitch Ratings Downgrades American Trans Air 1996-1.
- Article from:
- Business Wire
- Article date:
- April 3, 2003
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Business Editors
NEW YORK--(BUSINESS WIRE)--April 3, 2003
Fitch Ratings has taken the following rating actions for American Trans Air 1996-1 as follows:
-- Class A certificates are downgraded to 'BB-' from 'A';
-- Class B certificates are downgraded to 'B-' from 'BBB-';
-- Class C certificates are downgraded to 'CCC+' from 'BB+'.
The transaction, with a current outstanding balance of about $55.1 million, is also removed from Rating Watch Negative. The above rating actions reflect the weakened credit quality of American Trans Air (ATA) as well as concerns that the value of the Boeing aircraft that support the ...