On April 9, 2007, Standard&Poor's Ratings Services placed its ratings, including the 'B' corporate credit rating, on online travel agency Priceline.com Inc. on CreditWatch with positive implications. The positive CreditWatch listing indicates the possibility of upward rating movement based on good revenue and EBITDA growth and a solid competitive position in Europe. Year-over-year for the quarter ended Dec. 31, 2006, revenue increased 27.5%, and EBITDA increased about 53%. The strong financial performance was driven by Booking.com, the company's European hotel-booking engine, and Priceline.com's "name your own price" (or opaque) domestic travel services. Booking.com increased gross bookings 101% year-over-year and is gaining market share. This resulted primarily from Booking.com's better hotel coverage of secondary and tertiary tourist destinations in
