Fitch Ratings has affirmed the Long-Term Issuer Default Rating for Spirit Airlines at ‘BB+’. The Rating Outlook is Stable. Fitch has also affirmed the ratings on Spirit’s 2015-1 series of enhanced equipment trust certificates. The rating is supported by Spirit’s solid profitability, healthy liquidity, and low cost structure. Spirit’s cost advantage over its peers remains a significant ratings factor as it provides the company a meaningful cushion to operate through potential future economic downturns while maintaining adequate financial health. The ratings are also supported by an improving unit revenue environment among U.S. air carriers. Fitch’s primary rating concerns include leverage
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