U.S.-based travel technology provider Sabre Holdings Corp. plans to extend a portion of its significant 2014 maturities through a combination of term loan extension and secured notes issuance. We are assigning the extending term loan and new secured notes an issue level rating of 'B' and a recovery rating of '3'. We are also revising our 'B' rating outlook on the company to positive from stable. The positive outlook indicates the possibility of a rating upgrade if Sabre Holdings can satisfactorily resolve its litigation with airlines and maintain its EBITDA margin. On April 25, 2012, Standard&Poor's Ratings Services revised its rating outlook on Southlake, Texas-based Sabre Holdings Corp. to positive from stable. The corporate credit rating was affirmed
