A filing has revealed that beleaguered airline American Airlines (AAL) has now accessed a total of $2.73 billion from three revolving credit facilities in order to cope with the coronavirus fallout. The company has now borrowed the full $450 million from an April 2016 facility, plus $750 million from a 2013 revolver and ~$1.53B from a 2014 revolving facility.At the same time, Stifel Nicolaus analyst Joseph DeNardi downgraded his rating on AAL stock from Hold to Sell. He has a $13 price target on the stock (22% upside potential). Shares have plunged 63% year-to-date, with a 31% drop in just …read more
Source:: Yahoo Finance
