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BULLETIN: Cendant's Announcement On Travelport Has No Impact On The Ratings Of Realogy Corp. Jun 06
Standard & Poors, June 2006
Abstract
NEW YORK (Standard & Poor's) June 9, 2006--Standard & Poor's Ratings Services said today that Cendant Corp.'s (BBB+/Stable/A-2) announcement that there is an increasing likelihood of a sale of Travelport rather than a spin-off, does not have an impact on the ratings or outlook of the company's Realogy Corp. (BBB/Stable/--) business as a definitive agreement has not yet been signed. The company expects to have greater visibility on the sale process by mid-July, and is therefore exploring the possibility of simultaneous spin-offs of Realogy and Wyndham Worldwide Corp., instead of spinning off those companies at different times. In the event Cendant announces a definitive agreement for the sale of Travelport, the ratings on Realogy could have near-term upside potential as...
Companies mentioned in this report are: Realogy Corp.,Cendant Corp.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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