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Sabre Holdings Corp. Subsidiary's Credit Facilities Rated 'B+/B-'; Recovery Ratings '2/5' Mar 07 Product Image

Sabre Holdings Corp. Subsidiary's Credit Facilities Rated 'B+/B-'; Recovery Ratings '2/5' Mar 07

  • ID: 2127317
  • March 2007
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) March 5, 2007--Standard & Poor's Ratings Services today assigned ratings to Sabre Inc.'s proposed $3.515 billion secured credit facility. Sabre Inc. is the major operating subsidiary of travel distribution company Sabre Holdings Corp. (BB/Watch Neg/--). We assigned a 'B+' rating to Sabre Inc.'s proposed $3.215 billion first-lien senior secured credit facility, with a recovery rating of '2', indicating expectations of substantial (80%-100%) recovery of principal in the event of a payment default. The facility consists of a $500 million revolver due March 2013 and a $2.715 billion term loan due September 2014. In addition, we assigned a 'B-' rating to the $300 million second-lien term loan that matures in March 2015, with a recovery rating...

Companies mentioned in this report are: Sabre Holdings Corp.,Sabre Inc.
Action: New Rating

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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Sabre Holdings Corp.,Sabre Inc.

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