Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research American Airlines Group Inc.

Bulletin: AMR Corp. Announces New Borrowings, Ratings Remain On CreditWatch Negative

Published Sep 17, 2009

950 words — Published Sep 17, 2009

Price Free | Buy this Report Now

About This Report

Abstract:

NEW YORK (Standard&Poor's) Sept. 17, 2009--AMR Corp. announced today several substantial financing transactions that should bolster its cash liquidity. Standard&Poor's Ratings Services' ratings on AMR Corp. (B-/Watch Neg/--) and subsidiary American Airlines Inc. (B-/Watch Neg/--) remain on CreditWatch, where we placed them with negative implications on July 22, 2009, due to concerns regarding the company's declining cash reserves ($2.8 billion unrestricted cash as of June 30, 2009). AMR announced that American Airlines will receive $1 billion from a forward sale of frequent flyer miles to its affinity credit card partner, Citibank (South Dakota) N.A., Sioux Falls. In addition, American entered into a $281.5 million loan facility secured by aircraft, and a $1.6 billion commitment to sell

Brief Excerpt:

RESEARCH Bulletin: AMR Corp. Announces New Borrowings, Ratings Remain On CreditWatch Negative Publication date: 17-Sep-2009 Primary Credit Analyst: Betsy R Snyder, CFA, New York (1) 212-438-7811; betsy_snyder@standardandpoors.com...

Report Type:

Bulletin

Ticker

AMR

Issuer

American Airlines Group Inc.

GICS

Airlines (20302010)

Sector

Global Issuers , Public Finance , Structured Finance

Country

United States

Region

United States

Format:

HTML

AMR Corp.'s $250 Mil. Senior Convertible Notes Rated 'CCC+' (Recovery Rating: 5); On Watch Negative – 2009/09/22 – US$ 150.00

Ratings On AMR Corp. And Sub Affirmed, Off Watch On Improved Operating Performance; Outlook Negative – 2009/10/29 – US$ 150.00

Research Update: AMR Corp. And Sub Ratings Are Affirmed, Off Watch On Improved Operating Performance; Outlook Negative – 2009/10/29 – US$ 225.00

AMR Corp. – 2009/10/30 – US$ 500.00

Summary: AMR Corp. – 2009/10/30 – US$ 225.00

AMR, American Airlines Ratings Placed On Watch Neg Re Liquidity, Revenue Concerns – 2009/07/22 – US$ 150.00

Research Update: Ratings On AMR, American Airlines Sub Placed On Watch Negative On Revenue And Liquidity Concerns – 2009/07/22 – US$ 225.00

Summary: AMR Corp. – 2009/03/30 – US$ 225.00

AMR Corp. – 2008/09/29 – US$ 500.00

Summary: AMR Corp. – 2008/09/29 – US$ 225.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: AMR Corp. Announces New Borrowings, Ratings Remain On CreditWatch Negative" Sep 17, 2009. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-AMR-Corp-Announces-New-Borrowings-Ratings-Remain-On-CreditWatch-Negative-747226>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: AMR Corp. Announces New Borrowings, Ratings Remain On CreditWatch Negative Sep 17, 2009. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-AMR-Corp-Announces-New-Borrowings-Ratings-Remain-On-CreditWatch-Negative-747226>

Free

$ £ €

Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.