S&P RAISES OUTLOOK FOR AMR

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By admin November 2, 2010 10:12

S&P RAISES OUTLOOK FOR AMR

Standard & Poor’s Ratings Services raised its outlook on AMR Corp. (AMR) yesterday and its American Airlines unit to stable on the holding company’s improved performance. The rating agency said Monday it expects AMR to break even in 2011, assuming low economic growth and no fuel-price spike. That would result in slight improvement of its credit ratios. S&P rates the company at B-, one rung above highly speculative territory. AMR’s shares were at $7.69, down 2.5%, in recent trading amid a jump in oil futures. Last month, AMR reported its first profit in two years. American, the third-largest US airline and the only major carrier expected to lose money for the full year 2010, faces the highest labor costs among peers because it was the only one that did not file for bankruptcy.

admin
By admin November 2, 2010 10:12
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