U.S.-based travel services provider Sabre's operating performance has strengthened over the past two quarters, and should be sustainable, in our view. We are revising our 'B' rating outlook on the company to positive from negative. The positive rating outlook reflects our expectation that the company will continue to de-lever as a result of debt reduction and EBITDA growth over the intermediate term. On July 14, 2010, Standard&Poor's Ratings Services revised its rating outlook on Southlake, Texas-based Sabre Holdings Corp. to positive from negative. At the same time, we affirmed all of our ratings on the company, including the 'B' corporate credit rating. The outlook revision is based on Sabre's strengthening operating performance. The company experienced healthy revenue and
