NEW YORK (Standard&Poor's CreditWire) Aug. 25, 1999—-Standard&Poor's today affirmed its ratings for AMR Corp. and unit American Airlines Inc. (see list below) following announcement of participation by AMR in unrated Onex Corp.'s bid to acquire both Air Canada (double-'B'/Watch Negative/--) and Canadian Airlines Corp. (triple-'C'-plus/Watch Positive/--). AMR, which owns a 34% economic interest in and has a marketing alliance with Canadian Airlines, would invest about US$334 million (C$500 million) in equity (C$250 million), a C$225 million 10-year loan, and conversion of the existing $C25 million preferred investment in Canadian for a 14.9% stake as part of Onex's C$1 billion cash and stock offer (not including debt assumed) for Air Canada and Canadian Airlines. The two airlines
