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S&P Credit Research952 word report
published Sep 17, 2009
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| Abstract: | 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 American Airlines Inc. (B-/Watch Neg/--) remain on CreditWatch, where we placed them with negative implications on July 22, 2009, due to concerns regarding the company's declining cash reserves ($2.8 billion unrestricted cash as of June 30, 2009). AMR announced that American Airlines will receive $1 billion from a forward sale of frequent flyer miles to its affinity credit card partner, Citibank (South Dakota) N.A., Sioux Falls. In addition, American entered into a $281.5 million loan facility secured by aircraft, and a $1.6 billion commitment to sell
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| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: AMR Corp. Announces New Borrowings, Ratings Remain On CreditWatch Negative Publication date: 17-Sep-2009 Primary Credit Analyst: Betsy R Snyder, CFA, New York (1) 212-438-7811; betsy_snyder@standardandpoors.com...
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| Report Type: | Bulletin
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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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| Free Sample: |
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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.
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- 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 ...
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- Research Update: AMR Corp. And Sub Ratings Are Affirmed, Off Watch On Improved Operating Performance; Outlook Negative $175.00
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- AMR Corp.'s $250 Mil. Senior Convertible Notes Rated 'CCC+' (Recovery Rating: 5); On Watch Negative $100.00
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 ...
- 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, ...
