NEW YORK (Standard&Poor's) April 1, 2003--AMR Corp. (CCC/Watch Dev/--) unit American Airlines Inc. (CCC/Watch Dev/--) announced today that it had reached tentative concessionary agreements with all of its unions in a last-ditch effort to avert bankruptcy. Standard&Poor's Ratings Services said its ratings on both entities remain on CreditWatch with developing implications. "American's tentative agreements with its unions, if ratified and accompanied by supplier and lessor concessions and new secured financing being sought, should avert bankruptcy, as long as the effect of the Iraq war or terrorism does not worsen significantly," said Standard&Poor's credit analyst Philip Baggaley. "AMR and American would still be burdened with a heavy debt load and difficult revenue environment, but the
