CDB Aviation, through its wholly owned Irish subsidiary CDBL FUNDING 1, has successfully priced a $700 million dual-tranche offering of senior unsecured notes under its $3.0 billion Medium Term Note (MTN) Program. The issuance, completed on May 20, 2025, marks CDB Aviation’s return to the international bond market after a four-year absence and supports its long-term funding diversification strategy.
Spirit Airlines, a prominent U.S.-based low-cost carrier, has been downgraded by S&P Global from ‘CCC’ to ‘D’following its Chapter 11 bankruptcy filing. The move reflects the airline’s financial struggles and the significant challenges it faces during its restructuring process. Additionally, the ratings on Spirit Airlines’ Enhanced Equipment Trust Certificates (EETCs) have been lowered by one notch.
S&P Global has downgraded the credit rating of Brazilian airline Azul from CCC+ to CC, with a negative outlook, following the airline’s recent financing agreement with bondholders. This move reflects S&P’s view that the restructuring deal, aimed at providing Azul with additional liquidity, qualifies as a “distressed” transaction. The downgrade signals ongoing financial strain for…
