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Recovery Report: Sabre Inc. Revises Proposed Credit Facility Mar 07
Standard & Poors, March 2007
On March 20, 2007, Standard & Poor's Ratings Services affirmed its 'B+' rating on Sabre Inc.'s proposed $3.515 billion secured credit facility and revised the recovery rating on the revised facility. Sabre Inc. is the major operating subsidiary of Sabre Holdings Corp. (BB/Watch Neg/--) a travel distribution company based in Southlake, Texas. Standard & Poor's expects to lower the corporate credit rating on Sabre Holdings to 'B+', remove it from CreditWatch, and assign a stable outlook upon completion of this transaction. This rating action follows the issuer's decision to transfer the $300 million second-lien facility to the $2.715 billion first-lien term loan, increasing that facility to $3.015 billion. Standard & Poor's has assigned a recovery rating of '3', indicating an...
Companies mentioned in this report are: Sabre Holdings Corp.,Sabre Inc.
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: Full Analysis
Sabre Holdings Corp.,Sabre Inc.