S&P Places Orbitz Ratings On CreditWatch Negative
Stock quotes in this article:
OWW
If Orbitz completes open market purchases of its term loan at a discounted price, S&P said it will evaluate whether they consider the move a distressed debt purchase. If it is, that could result in a downgrade to "SD," or selective default.
Orbitz shares closed Friday's session down 11 cents, or 5 percent, at $2.08. Shares have traded in a 52-week range of $1.10 to $8.15. The stock is down about 44 percent since the start of the year.- Loading Comments...
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