Sabre Holdings Ratings Placed On Watch Negative On Acquisition Plan May 05
- ID: 2127514
- May 2005
- Standard & Poors
NEW YORK (Standard & Poor's) May 12, 2005--Standard & Poor's Ratings Services today placed its ratings, including the 'BBB+' corporate credit rating, on Sabre Holdings Corp. on CreditWatch with negative implications. The CreditWatch placement follows Sabre's announcement that its subsidiary, Sabre Inc., has reached an agreement to acquire lastminute.com, a leading European on-line travel provider, for approximately -577 million (approximately $1.1 billion). "The proposed acquisition of last.minute.com will likely negatively affect Sabre's relatively strong financial profile, but it should strengthen Sabre's market position in Europe," said Standard & Poor's credit analyst Betsy Snyder. "However, any potential ratings downgrade is expected to result in Sabre's maintaining its investment-grade ratings." The ratings on Sabre Holdings Corp. reflect its leading position within several...
Companies mentioned in this report are: Sabre Holdings Corp.,Sabre Inc.
Action: On CreditWatch:Negative
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Research type: News
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