American Airlines Group’s credit rating has been upgraded to B+ by S&P Global. The rating agency said that the upgrade action followed the airline’s “sharp improvement” in its credit measures throughout the first half of 2023 led by its strong rebound in earnings and robust free cash flow generation. S&P also pointed to American’s improved refinancing prospects since the risk of a US recession has been reduced risk due to the strengthening US economy and the continued high passenger travel demand. “We assume the company will generate free operating cash flow (FOCF) of over $2 billion in both 2023 and
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