The ratings on Ft. Worth, Texas-based AMR Corp., and its American Airlines Inc. subsidiary, reflect a highly leveraged financial profile, near-term earnings pressure due to a weak (albeit improving) global economy, and risks associated with participation in the competitive, cyclical, and capital-intensive airline industry. As the second-largest U.S. airline, American benefits from substantial market positions in the domestic market, U.S.-U.K. routes, and U.S.-Latin America routes (although it has only a minimal presence in the Pacific), which provides potential for good revenue generation when the global economy recovers. On Oct. 29, 2009, Standard&Poor's Ratings Services affirmed the corporate credit ratings on AMR and American, and removed the ratings from CreditWatch, where we placed them with negative implications July 22,
