Fitch rates United Continental notes BB/RR4

Fitch Ratings said it assigned a rating of BB/RR4 to United Continental Holdings, Inc.'s unsecured note issuance.

The agency currently rates United Continental and its primary operating subsidiary, United Airlines, Inc. BB.

United Continental expects to issue $400 million in senior unsecured notes due in October 2022. The notes will feature a guarantee from United Airlines and will rank equally with United Continental’s existing unsecured issuance.

Proceeds will be used for general corporate purposes.

Fitch said the debt issuance does not alter its prior forecast that United Continental’s adjusted debt/EBITDAR will remain in the mid- to high-3 times range over the intermediate-term, a level that is supportive of the current rating.

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