American Airlines has filed plans with the Securities and Exchange Commission to issue $592.5 million of equipment trust certificates that will be secured by 18 new aircraft being delivered in the first half of 2017.

Two classes of notes will be issued in the transaction. The $404.94 million Class AA senior tranche has 38.6% loan-to-value (LTV) ratio that will remain constant through the life of the deal. The notes have an initial 'Aa3' rating from Moody's Investors Service and 'AA' from Fitch Ratings.

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