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S&P affirms AMR
Standard & Poor's said it affirmed the corporate credit ratings on AMR Corp. and American Airlines Inc., and removed the ratings from CreditWatch, where they were placed with negative implications on July 22.
The outlook is negative.
"We based the ratings affirmation on Ft. Worth, Texas-based AMR and subsidiary American Airlines on increased near-term liquidity, which materially improves the company's prospects of avoiding financial distress this winter," S&P analyst Betsy R. Snyder said in a statement.
"We also based the affirmation on what appears to be the beginning of a gradual improvement in airline industry revenues."
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