NEW YORK (Standard&Poor's) Aug. 8, 2008--Standard&Poor's Ratings Services today took various actions on our ratings on Continental Airlines Inc. (B/Negative/B-3). We affirmed our 'B' long-term corporate credit rating, 'B-3' short-term corporate credit rating, all ratings on unsecured debt and on selected enhanced equipment trust certificates. We lowered our ratings on other enhanced equipment trust certificates, particularly those secured by regional jets, and raised other ratings. All ratings were removed from CreditWatch, where they were placed with negative implications May 22, 2008, as part of an industrywide review. The rating outlook is negative. "We expect that Continental Airlines will post a significant loss this year, due to high fuel prices, but its operating performance should continue to
