...- American Airlines Group Inc. (American) is on track to sustain credit measures much stronger than our previous upside rating threshold this year, led by the sharp rebound in its earnings and robust free cash flow generation. - We no longer expect a U.S. recession this year, which has allayed our previous concerns regarding a potential material slowing in passenger demand. - Moreover, in our view, American faces lower refinancing risk associated with its large debt maturities in 2025 than what we previously contemplated. - As a result, S&P Global Ratings has upgraded the company to 'B+' from 'B-'. We also raised all of our issue-level ratings, primarily due to the higher issuer credit rating (ICR). - The stable outlook reflects our expectation for American to generate funds from operations (FFO)-to-debt ratio of close to 20% through 2024, offset by the need for the company to make progress on addressing its 2025 debt maturities over the next 12 months....
