NEW YORK (Standard&Poor's) Sept. 23, 2009--Standard&Poor's Ratings Services today assigned its 'B' issue-level rating and '2' recovery rating to American Airlines Inc.'s $450 million senior secured notes due 2012. The '2' recovery rating indicates our expectation of substantial (70% to 90%) recovery in a payment default scenario. In addition, we placed the 'B' issue-level rating on CreditWatch with negative implications, because if we lower American's corporate credit rating, we would also lower this rating. The notes, which American's parent, AMR Corp. guarantees, are secured by 141 older B757, B767, and MD80 aircraft. Because American acquired these aircraft before the October 1994 revision to the U.S. Bankruptcy Code, and the debt we are rating does not have
