Recovery Report: Sabre Inc's $3.515 Billion Bank Financing Mar 07
Standard & Poors, March 2007
Abstract
On March 5, 2007, Standard & Poor's Ratings Services assigned its issue and recovery ratings to Sabre Inc.'s proposed $3.515 billion secured credit facility. Sabre Inc. is the major operating subsidiary of Southlake, Texas-based travel services company Sabre Holdings Corp. Proceeds from the credit facilities will be used to finance the acquisition of Sabre Holdings Corp. by a group of private equity investors, to repay certain existing indebtedness, and for working capital purposes. 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...
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.
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