NEW YORK (Standard&Poor's) April 3, 2003--AMR Corp. (CCC/Watch Dev./--) unit American Airlines Inc. (CCC/Watch Dev./--) disclosed that it has deferred some lease and debt payments, but is still within the grace periods for those obligations. Standard&Poor's Ratings Services said its ratings for both entities remain on CreditWatch with developing implications. The grace periods for the affected obligations vary, but most are about 15 days, giving the airline some time to conserve cash while it continues efforts to secure cost-cutting agreements with various key constituents. American is trying to finalize negotiations with suppliers, lessors, and private creditors to reduce aircraft obligations while employees vote on tentatively agreed concessions (due to be finished by April 15, 2003). The
