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S&P Credit Research1524 word report
published Mar 29, 2006
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S&P Credit Research
| Abstract: | On March 29, 2006, Standard&Poor's Ratings Services assigned its 'B+' bank loan rating and its '1' recovery rating to a $773 million amended and restated senior secured credit facility dated as of March 27, 2006, available to AMR Corp. subsidiary American Airlines Inc. (B-/Stable/--). AMR (B-/Stable/B-3) guarantees the facility. The credit facility amends an existing bank facility (which has the same bank loan and recovery ratings) to revise pricing, allocation of credit between the revolving credit facility ($325 million) and senior secured term loan ($448 million), and the cash flow coverage covenant. The 'B-' long-term corporate credit ratings on AMR Corp. and subsidiary American Airlines Inc. reflect a weak financial profile following several years of huge losses, a
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: American Airlines' $773 Mil. Amended, Restated Credit Facility Rated 'B+', Recovery Rtg '1' Publication date: 29-Mar-2006 Credit Rating: B-/Stable/## Rationale On March 29, 2006, Standard...
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| Report Type: | Research Update
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| Ticker: | AMR1
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| Issuer: | American Airlines Inc.
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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.
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