S&P Cuts Orbitz Worldwide Rating
Stock quotes in this article:
OWW
NEW YORK (AP) — Concerned by a slowdown in travel, Standard & Poor's cut its rating on a $685 million credit agreement held by Orbitz Worldwide Inc. on Friday.
S&P affirmed its "B'' corporate credit rating for the online travel agency with a "Negative" outlook, but cut the secured credit agreement rating one notch to "B+" from "BB-." Along with a slump in travel, S&P cited the loss of certain booking fees. Orbitz shares closed down a penny Friday to $6.53.- Loading Comments...
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