| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for American Airlines Inc. > News item |
S&P cuts American Airlines certificates
Standard & Poor's said it lowered its rating on the $75 million transferable custodial receipts relating to American Airlines Pass-Through Certificates Series 2001-2 to BBB-from BBB.
At the same time, the agency said it removed the rating from Creditwatch with negative implications, where it had placed it on July 24, 2009.
The agency said that the rating on the custodial receipts is dependent on the higher of (i) the rating on the insurance provider, Ambac Assurance Corp. (CC), and (ii) the rating on the underlying security, American Airlines Inc.'s $828.761 million of 7.858% class A-2 pass-through certificates series 2001-2 due Oct. 1, 2011 (BBB-).
S&P said that the actions reflect the Oct. 29 lowering of its rating on the underlying security to BBB- from BBB and the removal of the rating from Creditwatch with negative implications.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.