S&P: Continental Airlines plans do not affect credit rating
NEW YORK—Standard & Poor's Ratings Services said Monday that a decision by Continental Airlines Inc. not to pursue a merger with another carrier does not affect the airline's credit rating or outlook.
The rating agency lowered Continental's long-term rating outlook to "negative" from "stable" on April 16. S&P rates Continental "B," which is below investment grade.
Continental Chairman and Chief Executive Lawrence Kellner told employees Sunday the Houston-based airline was better off alone than combined with another carrier, ending speculation that it would join with UAL Corp.'s United Airlines.
Continental shares fell 13 cents to $17.09.
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