...November 8, 2022 NEW YORK (S&P Global Ratings) Nov. 8, 2022--S&P Global Ratings today assigned its 'A-' issue-level rating to Norwalk, Conn.-based Booking Holdings Inc.'s proposed euro-denominated senior unsecured notes. The company intends to use the proceeds to refinance its 2.15% senior notes due in 2022 and 2.75% senior notes due in 2023 and for general corporate purposes, including share repurchases. The notes will rank pari passu with the company's existing senior unsecured notes. The issue-level rating is the same as our 'A-' issuer credit rating on Booking. All of our ratings on Booking are unchanged. The outlook remains stable. As of Sept. 30, 2022, the company had approximately $9.2 billion of debt outstanding. We believe Booking will continue its conservative financial policy and expect the company to maintain a net cash position with no leverage over the next two years. Our rating on Booking reflects the company's leading market position as the largest global online travel agency,...
