The company is one of the largest online travel agencies (OTAs) globally, with a market-leading position in European hotel reservation services. It participates in a highly competitive industry, with potential for new entrants. It has good geographic diversity. The company has' very low debt leverage. It has moderate financial policy. It has strong liquidity and discretionary cash flow generation. The stable rating outlook on The Priceline Group Inc. reflects S&P Global Ratings' expectation that the company will maintain strong mid-teens percentage booking growth in 2017 and 2018 as its brands continue to gain market share and it maintains adjusted debt leverage below 1x. We could raise the corporate credit rating if Priceline diversifies its EBITDA base significantly by increasing EBITDA
