...NEW YORK (S&P Global Ratings) Aug. 10, 2017--S&P Global Ratings today assigned its '###+' issue-level rating to The Priceline Group Inc.'s proposed U.S. dollar-denominated senior unsecured notes. The company will use the proceeds for general corporate purposes, including share repurchases and debt repayment. The issue-level rating is at the same level as our corporate credit rating on Priceline. Pro forma for the debt offering, we expect Priceline to maintain a net cash position with no debt leverage. We also expect that the company will keep significant cash balances and strong discretionary cash flow generation. These strengths are partially offset by potential travel disruption-related volatility. We expect the company to maintain its prudent approach regarding share repurchases, dividends, and acquisitions. Priceline has a leading market position in European hotel reservation services, especially in secondary and tertiary markets, and a growing presence in Asia and North America. The...
