The company is one of the largest online travel agencies globally. The highly competitive industry, with potential for new entrants. The company's good geographic diversity. The company's very low leverage. Its moderate financial policy. Its "strong" liquidity and discretionary cash flow generation. The rating outlook on The Priceline Group Inc. is stable. Standard&Poor's Ratings Services expects that Priceline will maintain good growth as its Booking.com and Agoda Co. Pte Ltd. brands continue to gain operating momentum. We expect Priceline to maintain adjusted debt leverage below 1x In 2015 and 2016. While unlikely over the next two to three years, we could raise the rating if Priceline can generate a significant EBITDA contribution by broadening its ancillary travel services
