We are raising our corporate credit rating on The Priceline Group Inc. (formerly known as Priceline.com Inc.) to 'BBB+' from 'BBB' based on continued strong operating performance and market share gains in key markets. We are raising the issue-level rating on the company's unsecured notes to 'BBB+' from 'BBB'. The stable outlook reflects our expectation that the company's operating performance will remain robust in 2014 and 2015, and that the company will continue its moderate financial policy of maintaining adjusted debt leverage below 1x. On Aug. 1, 2014, Standard&Poor's Ratings Services raised its corporate credit rating on Norwalk, Conn.-based The Priceline Group Inc. (formerly known as Priceline.com Inc.) to 'BBB+' from 'BBB'. The rating outlook is stable. At
