...- American Airlines Group Inc. (AAG) and its American Airlines Inc. subsidiary are benefiting from strong demand for leisure travel and high fares, which have offset much higher jet fuel prices this year. - AAG should report improved credit measures this year sufficient to support its current rating, but progress toward a higher rating is held back by the risk of a U.S. recession and continuing high jet fuel prices. - Liquidity remains ample, with $12.2 billion of unrestricted cash and short-term investments and $3.1 billion of unused committed bank lines as of June 30, 2022, cushioning downside risk. - We affirmed our 'B-' issuer credit rating and stable outlook. - Following a review of recovery prospects for secured term loans and unsecured notes, we raised our rating to 'B' from 'B-' on the 2014 term loan due 2027 and 2014 revolving credit facility, both secured principally by takeoff and landing slots at London's Heathrow International Airport. We revised the recovery ratings on those...
