Sabre Holdings Corp. (BBB+/Negative/--) announced its intent to sell approximately eight million shares of common stock. Standard & Poor's ratings on Sabre are unaffected by this announcement. Sabre's $420 million cash offer to purchase the approximately 30% of Travelocity.com that it does not already own was accepted on March 18, 2002. Proceeds from the sale of the 8.0 million shares, in addition to another 1.2 million share overallotment granted to the underwriters, would amount to approximately $420 million at Sabre's current share price of around $45. Therefore, proceeds would just about offset the purchase price of Travelocity.com. Even before Sabre's bid for the Travelocity.com shares it did not already own, its negative outlook was based on the potential impact of
