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AMR Corp. Ratings Affirmed, Outlook Now Negative; American 2001-1 Pass-Thru Certs Ratings Lowered
Standard & Poors, May 2011
Abstract
AMR Corp. reported a $436 million net loss in the first quarter of 2011, and has substantial debt maturities and capital spending commitments in 2011 and 2012. We expect that AMR's unrestricted cash and short-term investments, which were a healthy $5.8 billion at March 31, 2011, following substantial first-quarter debt-raising, may decline to less than $4 billion by the end of this year. We are affirming our ratings, including the 'B-' corporate credit rating, on AMR Corp., but revising the rating outlook to negative from stable. We are affirming most ratings of subsidiary American Airlines Inc., but lowering our ratings on the 2001-1A1 certificates to 'CCC+' from 'B-', and on the 2001-1B and 2001-1C certificates to 'CCC' from 'CCC+'. We...
Companies mentioned in this report are: AMR Corp.,American Airlines Inc.
Action: Outlook: Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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