NEW YORK (Standard&Poor's) April 2, 2008--Standard&Poor's Ratings Services today reinstated ratings on two Continental Airlines Inc. debt issues that are insured by Financial Guaranty Insurance Co. (FGIC; BB/Negative/--). We reinstated the rating on the $53.6 million 2004-1 class G pass-through certificates at 'A' and the rating on the $190 million 2006-1 class G floating rate pass-through certificates at 'BBB'. "The reinstated ratings on Continental's 2004-1 and 2006-1 pass-through certificates reflect the Standard&Poor's Underlying Ratings [SPURs], rather than the rating of the insurer, FGIC," said Standard&Poor's credit analyst Philip Baggaley. "Ratings had been suspended March 28, 2008, when we downgraded FGIC to a level below that of the SPURs," the analyst continued. The
