NY -- Standard&Poor's CreditWire 1/9/97 -- Standard&Poor's today has affirmed its ratings of AMR Corp. and unit American Airlines Inc. (see table below), following rejection by American's pilots of a new labor contract negotiated by the pilot union and company. The rating outlook remains positive. About $6.7 billion of securities is affected. The contract rejection, a surprise and disappointment for AMR, sets back prospects for a possible upgrade of debt ratings. Although wage rates and other pilot compensation remain at previous levels pending negotiation of a new contract, the negative vote increases the probability of an eventual more costly agreement and carries with it some chance of a strike. Based on industry precedents, it seems unlikely
