The ratings for AMR Corp. were placed on CreditWatch with negative implications Sept. 13, 2001, following the terrorist attacks in the U.S. on Sept. 11. The ratings were lowered to current levels on Sept. 20 and remain on CreditWatch. In addition to possible further rating actions related to the company's credit quality, ratings could be lowered as a result of Standard&Poor's industrywide review of senior unsecured debt and enhanced equipment trust certificates. AMR Corp. and its American Airlines Inc. unit, like other U.S. airlines, reported weak results for the first half of 2001, due to lower business traffic and higher labor costs, and has incurred heavy losses due to the shutdown of the U.S. aviation system, and very
