Fitch ups United Continental

Fitch Ratings said it upgraded the issuer default rating of United Continental Holdings, Inc. and its two airline operating subsidiaries to B from B-.

The outlook is stable.

The upgrade follows a year of significant debt reduction and strong free cash flow generation since the closing of the United Continental merger on Oct. 1, 2010, the agency said.

In the face of heavy fuel cost pressure during the first half of 2011, the company has consistently reported industry-leading revenue per available seat mile growth while funding heavy debt maturities out of internally generated cash flow, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.