Sabre Holdings Corp. (BBB+/Negative/--) reported a profit of $57.9 million in the third quarter of 2002 versus $56.1 million a year earlier. Standard & Poor's Ratings Services said its rating and outlook on the company are not affected. Operating revenues declined by 2.7% due primarily to reduced travel bookings in the period. Total bookings declined by 4.7%, with the U.S. declining by 8.1% and international by 0.4%. However, the company's operating income rose to $87.5 million from $2.1 million in the prior-year period, as the company has continued to reduce expenses-ûby 19% in the quarter. In addition, the company's 2001 earnings benefited from a $38.8 million gain on the sale of assets of discontinued operations. Sabre ended the quarter with
