The company is issuing pass-through certificates, series 2009-1A, to finance new B737-800 aircraft deliveries and refinance existing B777-200ER owned planes. We consider the aircraft collateral to be very good, and cross-collateralization and cross-default provisions enhance the likelihood of American Airlines Inc. continuing to pay on the certificates in any bankruptcy. We are assigning our preliminary 'A-' rating to the certificates. On June 29, 2009, Standard&Poor's Ratings Services assigned its preliminary 'A-' rating to American Airlines Inc.'s series 2009-1A Class A pass-through certificates, with an expected maturity of July 2, 2019. The final legal maturity will be 18 months after the expected maturity. The issues are a drawdown under a Rule 415 shelf registration. We will assign final ratings
