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Old Mar 13, 2009 | 1:01 pm
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Gardyloo
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AMR credit downgraded...

...to CCC - "poor quality" - by Fitch today. Story: http://tinyurl.com/cy7ggu

On Thursday, AMR's Horton told Reuters the company may need to make deeper capacity cuts this year to bring it more in line with the demand for travel. Already the airline expects to cut 6.5% from its consolidated seat capacity this year, with American chopping out 9% from its domestic capacity and 2.5% from international.
I'm so glad I increased my AMR holdings when I did.
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