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S&P: AMR on positive watch
Standard & Poor's said it placed its ratings on AMR Corp. (B-/Watch positive/B-3) and subsidiary American Airlines Inc. (B-/Watch positive) on CreditWatch with positive implications.
The CreditWatch placement reflects improving earnings and cash flow prospects, which should translate into a strengthened financial profile, the agency noted.
The agency said the B+ bank loan rating on American's $773 million credit facility was placed on CreditWatch, but the 1 recovery rating was not placed on CreditWatch.
American Airlines is benefiting from much improved pricing and load factors, particularly in the U.S. domestic market, which are helping to offset very high fuel prices, S&P added.
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