On Oct. 31, 2005, Standard&Poor's Ratings Services assigned its 'B-' rating to $800 million of New York City Industrial Development Agency special facility revenue bonds, series 2005 (American Airlines Inc., John F. Kennedy International Airport Project), which mature at various dates (see ratings list, below). At the same time, the ratings on existing series 2002 bonds were raised to 'B-' from 'CCC', reflecting changes in the security arrangements that apply to those bonds. Both series of bonds will be serviced by payments made by AMR Corp (B-/Stable/B-3) unit American Airlines Inc. (B-/Stable/--) under a lease between the airline and the agency. The Series 2002 and 2005 JFK Airport bonds are rated at the same level as American's corporate
