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Sabre Holdings Corp. Proposed Amended And Extended Loans Rated 'B' (Recovery Rating: 3) Feb 12 Product Image

Sabre Holdings Corp. Proposed Amended And Extended Loans Rated 'B' (Recovery Rating: 3) Feb 12

  • Published: February 2012
  • Standard & Poors

Abstract
CHICAGO (Standard & Poor's) Feb. 23, 2012--Standard & Poor's Ratings Services today affirmed its 'B' issue-level rating on the revolving credit facility of Southlake, Texas-based online travel services company Sabre Holdings Corp.'s operating subsidiary, Sabre Inc., following the company's proposal to amend the loan and extend the maturity date to Sept. 30, 2016. The recovery rating on the revolver remains at '3', indicating our expectation of meaningful (50% to 70%) recovery for lenders in the event of a payment default. In addition, we assigned the proposed extended portion of the company's term loan due Sept. 30, 2017 an issue-level rating of 'B' with a recovery rating of '3'. The revolving credit facility commitment will likely begin at $500 million. If...

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 READ MORE >

Sabre Holdings Corp.,Sabre Inc.

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