AMR And American Airlines Downgraded To 'D' On Bankruptcy Filing; Issue Ratings Also Lowered - S&P Credit Research

AMR And American Airlines Downgraded To 'D' On Bankruptcy Filing; Issue Ratings Also Lowered

1259 words — Published Nov 29, 2011
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Abstract:

AMR Corp. and its American Airlines Inc. subsidiary filed for Chapter 11 bankruptcy this morning after negotiations with American's unions failed to secure cost-saving contracts management had sought. We are lowering our ratings, including the corporate credit ratings on both entities to 'D' from 'CCC+', and removing those ratings from CreditWatch, where we placed them with negative implications Nov. 17, 2011. We expect that AMR and American will be able to reorganize in Chapter 11 and emerge as a somewhat smaller airline with more competitive labor costs and a lighter debt load. NEW YORK (Standard&Poor's) Nov. 29, 2011--Standard&Poor's Ratings Services said today that it lowered its ratings on AMR Corp. and American Airlines Inc., including the

  
Brief Excerpt:

RESEARCH Ratings Definitions PDF AMR And American Airlines Downgraded To 'D' On Bankruptcy Filing; Issue Ratings Also Lowered Publication date: 29-Nov-2011 Primary Credit Analyst: Philip Baggaley, New York (1) 212-438-7683; philip_baggaley@standardand...

  
Report Type:

Ratings Action

Ticker
AMR
Issuer
GICS
Airlines (20302010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Region
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S&P Credit Research—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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MLA:
S&P Credit Research. "AMR And American Airlines Downgraded To 'D' On Bankruptcy Filing; Issue Ratings Also Lowered" Nov 29, 2011. Alacra Store. Apr 20, 2014. <http://www.alacrastore.com/s-and-p-credit-research/AMR-And-American-Airlines-Downgraded-To-D-On-Bankruptcy-Filing-Issue-Ratings-Also-Lowered-917697>
  
APA:
S&P Credit Research. (). AMR And American Airlines Downgraded To 'D' On Bankruptcy Filing; Issue Ratings Also Lowered Nov 29, 2011. New York, NY: Alacra Store. Retrieved Apr 20, 2014 from <http://www.alacrastore.com/s-and-p-credit-research/AMR-And-American-Airlines-Downgraded-To-D-On-Bankruptcy-Filing-Issue-Ratings-Also-Lowered-917697>
  
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