Research Update: Sabre Holdings Corp. 'B+' CCR Placed On Watch Negative Based On Weaker Travel Demand Nov 08
- ID: 2126992
- November 2008
- Standard & Poors
On Nov. 10, 2008, Standard & Poor's Ratings Services placed its ratings on Sabre Holdings Corp. and major operating subsidiary Sabre Inc., including the 'B+' long-term corporate credit rating on both entities, on CreditWatch with negative implications. The CreditWatch listing reflects concerns regarding the effect of reduced travel demand caused by the weaker global economy on the company's financial profile. The reduction in travel will likely delay or prevent the improvement we had anticipated in Sabre's financial profile after March 2007 leveraged acquisition. Southlake, Texas-based Sabre is a leading provider of electronic travel distribution services. In March 2007, Silver Lake Partners and TPG acquired Sabre for approximately $5.4 billion, including the assumption of approximately $900 million of debt. The acquisition...
Companies mentioned in this report are: Sabre Holdings Corp.,Sabre Inc.
Action: On CreditWatch:Negative
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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