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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (157106)	9/16/2011 11:30:13 AM
From: CommanderCricket	Respond to of 206334

LOL Fitch lifts United's junk-level rating one notch By Melodie Warner Fitch Ratings raised United Continental Holdings Inc.'s UAL +0.91% junk-level rating one notch, saying the airline has generated strong free cash flow and significantly cut its debt since completing its merger last year. A stock-swap merger, valued at $3.2 billion in October 2010, combined United Airlines parent UAL Corp. with Continental Airlines Inc. to create the world's biggest airline. The credit-ratings company upgraded United Continental's issuer default rating to B from B-minus, five steps away from investment grade. The outlook is stable. Fitch said the airline's demand patterns have remained resilient in spite of macroeconomic headwinds and merger-integration efforts appear to be progressing according to plan. The firm said an upgrade is possible over the next two years if United continues to generate positive free cash flow and reduces adjusted debt levels. The rating would face a downgrade over the next year if global economic stress crimps air travel demand and leads to passenger unit revenue declines in 2012, Fitch said. Last week, United said its August traffic fell 2.7%, as cancellations from Hurricane Irene crimped capacity and flights were less full. But it estimated passenger revenue per available seat mile, the profitability metric known as Prasm, increased 10.5% to 11.5%, returning to double digits after two months of lower estimates.