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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

  • Published: 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 READ MORE >

Sabre Holdings Corp.,Sabre Inc.

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