On April 1, 2008, Standard&Poor's Ratings Services reinstated its rating on AMR Corp. unit American Airlines Inc.'s $85.7 million 2005-1 class G pass-through certificates that are insured by Financial Guaranty Insurance Co., assigning a 'BBB+' rating. The rating was suspended March 28, 2008, when we downgraded FGIC to a level below that of the confidential Standard&Poor's Underlying Rating (SPUR). The new rating reflects the SPUR. The 2005-1 pass-through certificates are secured indirectly by spare engines used on a variety of planes in American's fleet, and the transaction is structured in a manner similar to aircraft-backed enhanced equipment trust certificates. Please see the original report, "American Airlines 2005-1 Pass-Thru Certs Class G Rated Preliminary 'AAA'," published Sept.
