On Jan. 29, 2004, Standard&Poor's Ratings Services assigned its 'BBB-' preliminary rating to American Airlines Inc.'s (B-/Stable/--) proposed $180.5 million Class A secured notes due 2009. In addition, a preliminary 'B' rating was assigned to the proposed $53.5 million Class B secured notes due 2009. The final scheduled payment date for both classes of notes is February 2009, and the final legal maturity February 2011. Final ratings will be assigned upon completion of the review of legal documentation. The rating on the Class A notes is based on the credit of American Airlines, the strategic importance to American of aircraft spare parts that collateralize the notes in any bankruptcy reorganization, and various structural features intended to maintain collateral
