United Airlines Receives Ratings From Standard and Poors and Moodystitle
Ratings Reinforce Strength of Uniteds Restructuring, Future Outlook
In response to the ratings issued today by both Standard & Poors and Moodys,
United issued the following statement, attributed to Kathryn Mikells, Uniteds
vice president and treasurer:
CHICAGO, Jan. 9 /PRNewswire-FirstCall/ -- United Airlines received ratings
from Standard & Poors and Moodys, which reflect the work the company has
completed during the restructuring to improve its cost structure and maximize
revenue opportunities.
Standard & Poors issued a B rating with a stable outlook. The companys
exit financing facility was rated B+, with a recovery rating of 1, the highest
possible rating. Moodys rated United a Corporate Family Rating of B2 with a
stable outlook. The companys exit financing facility received a Corporate
Family Rating of B1 and a Speculative Grade Liquidity Risk Assessment rating
of 2.
"We believe these ratings validate the work United has done and that the
company is well positioned to compete with the strongest carriers, even with
the industrys ongoing high fuel costs challenges," said Kathryn Mikells,
Uniteds vice president and treasurer. "As the ratings note, United has
vastly improved its cost structure, and with our extensive route system with
access to major markets in the U.S., Asia and Europe and strong regional
connections with United Express, United is able to generate stronger revenue
per seat than its low-cost competitors. We will exit bankruptcy next month, a
much stronger airline, with credit ratings that are superior to those of our
network peers."
About United
United Airlines (OTC Bulletin Board: UALAQ) operates more than 3,400
flights a day on United, United Express and Ted to more than 200 U.S. domestic
and international destinations from its hubs in Los Angeles, San Francisco,
Denver, Chicago and Washington, D.C. With key global air rights in the Asia-
Pacific region, Europe and Latin America, United is one of the largest
international carriers based in the United States. United is also a founding
member of Star Alliance, which provides connections for our customers to 790
destinations in 138 countries worldwide. Uniteds 57,000 employees reside in
every U.S. state and in many countries around the world. News releases and
other information about United can be found at the companys Web site at
http://united.com .
Worldwide Press Office:
Days: 847.700.5538
Evenings/Weekends: 847.700.4088
