On Aug. 2, 2004, Standard & Poor's Ratings Services revised its outlook on Sabre Holdings Corp. to stable from negative. Both the 'BBB+' corporate credit rating and unsecured debt rating are affirmed. The outlook revision reflects an improvement in Sabre's travel bookings and earnings as a result of the strengthening airline travel environment and the company's effective cost controls. These trends have aided the company's credit ratios, as well as its liquidity. The ratings on Sabre Holdings Corp. reflect its leading position within several of its major businesses and its relatively strong financial profile. Sabre is a major provider of travel marketing and distribution services to the travel industry. Sabre owns one of the largest computer reservations systems (CRS), responsible
