Fitch: AMR and American Airlines at 'B-'; Outlook to Stable.
Travel & Leisure Close-Up, April, 2008
TRAVEL AND LEISURE CLOSE-UP-20 April 2008-Fitch: AMR and American Airlines at 'B-'; Outlook to Stable(C)2008 - CloseUpMedia - newsdesk@closeupmedia.com
Fitch Ratings has affirmed the debt ratings of AMR and its principal operating subsidiary, American Airlines, as follows:
AMR
- Issuer Default Rating (IDR) at 'B-';
- Senior unsecured debt at 'CCC/RR6'.
American Airlines
- IDR at 'B-';
- Secured bank credit facility at 'BB-/RR1'.
The Rating Outlook for both AMR and American has been revised to Stable from Positive.
In a release, Fitch stated:
- Ratings for AMR and American reflect the high degree of leverage in the carrier's capital structure, its heavy fixed cash...
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