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S&P gives American pass-throughs B+ (sf)
Standard & Poor's said it assigned its B+ (sf) rating to American Airlines Inc.'s series 2013-2 class B pass-through certificates with an expected maturity of July 15, 2020.
The final legal maturity will be 18 months after the expected maturity.
S&P said the rating is based on the consolidated credit quality of American and its parent, AMR Corp. (both rated D); the agency's expectation regarding the likelihood that AMR and American will emerge from bankruptcy and merge with US Airways Group Inc., parent of airline US Airways Inc.; the substantial collateral coverage by good-quality aircraft; and the legal and structural protections available to the pass-through certificates.
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