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S&P Credit Research1029 word report
published Sep 22, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Sept. 22, 2009--Standard&Poor's Ratings Services today assigned its 'CCC+' issue-level rating and '5' recovery rating to AMR Corp.'s $250 million senior convertible notes due 2014. In addition, we placed the rating on CreditWatch with negative implications, and will review it in conjunction with our resolution of the CreditWatch listing on AMR. We could lower the ratings if we lower the corporate credit rating on AMR, or if we lower our recovery rating on the senior unsecured debt. We placed our ratings on AMR and subsidiary American Airlines Inc. on CreditWatch with negative implications on July 22, 2009, due to liquidity concerns. AMR will use the proceeds from the notes offering for general corporate
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| Brief Excerpt: | RESEARCH Ratings Definitions AMR Corp.'s $250 Mil. Senior Convertible Notes Rated '###+' (Recovery Rating: 5); On Watch Negative Publication date: 22-Sep-2009 Primary Credit Analyst: Betsy R Snyder, CFA, New York (1) 212-438-7811;...
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| Report Type: | Ratings Action
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| Ticker: | AMR
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| Issuer: | AMR Corp.
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| GICS: | Airlines (20302010)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | United States
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| Region: | United States
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- AMR Corp. $400.00
Satisfactory liquidity, with $4.1 billion of unrestricted cash and short-term investments as of Sept. 30, 2009; and Second-largest U.S. airline, with substantial market positions in the domestic market, U.S.-U.K. routes, and U.S.-Latin America ...
- Summary: AMR Corp. $175.00
The ratings on Ft. Worth, Texas-based AMR Corp., and its American Airlines Inc. subsidiary, reflect a highly leveraged financial profile, near-term earnings pressure due to a weak (albeit improving) global economy, and risks associated with ...
- Ratings On AMR Corp. And Sub Affirmed, Off Watch On Improved Operating Performance; Outlook Negative $100.00
--AMR Corp. has obtained about $5 billion of liquidity and financing through secured debt, convertible debt, and common stock offerings since the end of the second quarter. --These actions, and initial signs of improving airline traffic and ...
- Research Update: AMR Corp. And Sub Ratings Are Affirmed, Off Watch On Improved Operating Performance; Outlook Negative $175.00
AMR Corp. has obtained about $5 billion of liquidity and financing through secured debt, convertible debt, and common stock offerings since the end of the second quarter. These actions, and initial signs of improving airline traffic and yield ...
- Bulletin: AMR Corp. Announces New Borrowings, Ratings Remain On CreditWatch Negative $100.00
NEW YORK (Standard&Poor's) Sept. 17, 2009--AMR Corp. announced today several substantial financing transactions that should bolster its cash liquidity. Standard&Poor's Ratings Services' ratings on AMR Corp. (B-/Watch Neg/--) and subsidiary ...
- AMR, American Airlines Ratings Placed On Watch Neg Re Liquidity, Revenue Concerns $100.00
--AMR Corp. and its American Airlines Inc. subsidiary, like other U.S. airlines, face weak passenger demand, which resulted in a $390 million second quarter net loss (including about $70 million of nonrecurring charges). --AMR Corp. had $2.8 ...
- Research Update: Ratings On AMR, American Airlines Sub Placed On Watch Negative On Revenue And Liquidity Concerns $175.00
AMR Corp. and its American Airlines Inc. subsidiary, like other U.S. airlines, face weak passenger demand, which resulted in a $390 million second quarter net loss (including about $70 million of nonrecurring charges). AMR Corp. had $2.8 billion ...
- Summary: AMR Corp. $175.00
Standard&Poor's Ratings Services' ratings on Fort Worth, Texas-based AMR Corp. and subsidiary American Airlines Inc. reflect participation in the competitive, cyclical, and capital-intensive airline industry; a heavy debt and pension burden, ...
