Reuters
UAL rtgs unaffected by terrorist attack suits-S&P
Wednesday September 10, 2:30 pm ET
(The following statement was released by the rating agency)
NEW YORK, Sept 10 - A ruling by a federal judge that allows lawsuits by the families of victims
killed at the World Trade Center and Pentagon in the Sept. 11, 2001, attacks to proceed
against UAL Corp. (OTC BB:UALAQ.OB - News) unit United Air Lines Inc. (both rated 'D'),
American Airlines Inc., and other parties has no implications for Standard & Poor's Ratings
Services' ratings or outlooks on the companies. United's and American's potential liability for
damages relating to loss of life and property damage at the crash sites was capped at the
airlines' then-existing insurance coverage under September 2001 federal airline legislation.
Continued litigation will, however, entail some legal costs, management attention, and possibly
negative publicity, and, depending on the outcome, could set unfavorable legal precedents for
the airline industry, already severely damaged by other effects of terrorist attacks.
UAL rtgs unaffected by terrorist attack suits-S&P
Wednesday September 10, 2:30 pm ET
(The following statement was released by the rating agency)
NEW YORK, Sept 10 - A ruling by a federal judge that allows lawsuits by the families of victims
killed at the World Trade Center and Pentagon in the Sept. 11, 2001, attacks to proceed
against UAL Corp. (OTC BB:UALAQ.OB - News) unit United Air Lines Inc. (both rated 'D'),
American Airlines Inc., and other parties has no implications for Standard & Poor's Ratings
Services' ratings or outlooks on the companies. United's and American's potential liability for
damages relating to loss of life and property damage at the crash sites was capped at the
airlines' then-existing insurance coverage under September 2001 federal airline legislation.
Continued litigation will, however, entail some legal costs, management attention, and possibly
negative publicity, and, depending on the outcome, could set unfavorable legal precedents for
the airline industry, already severely damaged by other effects of terrorist attacks.
