Fitch takes rating actions on Spirit Airlines’ EETCs

Fitch Ratings has downgraded Spirit Airlines’ 2017-1 class AA enhanced equipment trust certificates (EETCs) to ‘AA-‘ from ‘AA’. The certificates remain on Rating Watch Negative. Fitch has affirmed Spirit’s 2017-1 class A and B certificates and Spirit’s 2015-1 class A and B certificates. Fitch states that it considers the affirmation factor for the 2017-1 and 2015-1 pools to be high. “In our view, the likelihood that Spirit would ultimately affirm these aircraft in a scenario where the airline filed for bankruptcy is supported by the relatively high percentage of the fleet contained in these pools. The Spirit 2015-1 pool contains