S&P Lowers UAL Outlook To Negative On Expected Poor Earnings
SAN FRANCISCO — Standard & Poor’s on Friday lowered its rating outlook on UAL Corp. and its carrier United Air Lines Inc. to negative from stable because of expected poor earnings. S&P has a B rating on UAL. “The outlook change is based on expected materially worse earnings and cash flow generation in 2008, consistent with industry trends, due to very high fuel prices and a weak U.S. economy,” said Philip Baggaley, an S&P credit analyst, in an statement. S&P said the outlook change does not relate to potential effects of the proposed merger of Delta Air Lines Inc. and Northwest Airlines Corp. .
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