AMR’s Credit Rating Is Upgraded by S
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From Associated Press
Standard & Poor’s upgraded the credit rating for American Airlines and parent AMR Corp., citing cash flow improvements since $1.8 billion in wage concessions were reached with labor unions in April.
Standard & Poor’s Rating Services boosted the rating from CCC to B-minus for the world’s largest carrier. A higher credit rating generally lowers the interest rate that a company must pay to borrow money.
AMR shares rose 13 cents to $9.24 on the NYSE.
From Associated Press
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