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AMR And American Airlines Ratings Lowered, On Watch Negative Following Setback In Labor Negotiations Nov 11
Standard & Poors, Nov 2011
Abstract
The American Airlines Inc. pilots' union leadership's rejection of a contract proposal made public by management is a setback in American's long-running contract negotiations. AMR Corp., American's parent company, has reported heavy losses this year and underperformed its peers. Although cash liquidity is currently satisfactory, we believe that this will decline with further losses and heavy debt maturities through the slow winter season. We are lowering ratings on AMR and American, including the corporate credit ratings to 'CCC+' from 'B-', and placing ratings on CreditWatch with negative implications. NEW YORK (Standard & Poor's) Nov. 17, 2011--Standard & Poor's Ratings Services said today that it lowered its ratings on AMR Corp. and subsidiary American Airlines Inc., including the corporate credit ratings...
Companies mentioned in this report are: AMR Corp.,American Airlines Inc.
Action: On CreditWatch: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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