...April 9, 2024 This report does not constitute a rating action. NEW YORK (S&P Global Ratings) April 9, 2024--S&P Global Ratings today said that its ratings on Sabre Corp. (B-/Stable/--) are unchanged following the company's recently announced expansion of its accounts-receivable securitization facility (AR facility) to $235 million from $200 million and maturity extension to 2027. The AR facility will now comprise a $120 million first-in, last-out tranche and a $115 million revolving tranche. However, the transaction will immediately increase the amount drawn on the facility to approximately $232 million because Sabre will use these funds to strengthen its balance sheet and pay transaction costs. This expansion is a continuation of the transactions the company recently completed in March 2024, which also focused on improving its financial flexibility and extending its debt maturities. In March 2024, Sabre exchanged a portion of its $345 million 4.00% senior exchangeable notes due 2025 for...
