The ratings for Sabre Holdings Corp. reflect a solid position within its major business and relatively strong financial profile. Sabre is a major provider of electronic distribution and information technology services to the travel industry. Sabre owns the leading computer reservations system (CRS), responsible for booking approximately 40% of the world's travel agency airline reservations. In addition, Sabre owns 70% of Travelocity.com (for which it has made a tender offer to acquire the 30% it does not already own), the largest consumer on-line travel booking site; and 100% of GetThere, one of the largest corporate on-line booking sites. Despite the recent slowdown in bookings due to reduced levels of travel after the events of Sept. 11, on-line travel has been
