NEW YORK (Standard&Poor's) July 7, 2003--Standard&Poor's Ratings Services said today it assigned its 'AAA' ratings to American Airlines Inc.'s (B-/Negative/--) $254.9 million Class G pass-through certificates series 2003-1, which have a final legal maturity of Jan. 9, 2012. "The 'AAA' rating on American's 2003-1 Class G pass-through certificates is based on a guarantee insurance policy provided by Ambac Assurance Corp. (AAA/Stable/--)," said Standard&Poor's credit analyst Philip Baggaley. The pass-through certificates are aircraft-backed securities whose credit quality benefits from substantial overcollateralization, favorable legal treatment under the U.S. Bankruptcy Code, and a dedicated liquidity facility. The certificates are secured by equipment notes issued by American financing three B777-223ER, three B737-823, and one B767-300ER passenger jet aircraft
