LATAM ABS rated by Fitch

Fitch Ratings has stated that it expects to assign a rating of ‘BB+(exp)’ with a Stable Outlook to Guanay Finance Limited’s proposed $450 million issuance of senior notes. Guanay Finance Limited is a special purpose vehicle incorporated in the Cayman Islands and sponsored by LATAM Airlines Group (LATAM). The proposed issuance is backed by US and Canadian dollar-denominated receivables from ticket and cargo sales generated by credit, debit or charge cards in the United States and Canada. The majority of receivables will be for flights to and from North American gateways. The pool of receivables grew 21.45% CAGR from 2005-2012