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Prospect News home > News index > List of issuers E > Headlines for Expedia Group, Inc. > News item |
S&P gives Expedia notes BBB-
S&P said it assigned its BBB- issue-level rating to Expedia Group Inc.’s proposed senior unsecured notes.
The company plans to use the proceeds to prefund the redemption of its $1.2 billion of outstanding preferred stock when the redemption premium is scheduled to decline in May 2021.
“However, in the interim, we expect Expedia to use the proceeds to bolster its liquidity and pay down its revolving credit facility borrowings. The proposed debt offering is leverage neutral,” S&P said in a press release.
Expedia’s BBB- rating and negative outlook are unaffected by the offering, the agency said.
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