Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Expedia, Inc. > News item |
Moody's may cut Expedia to junk
Moody's Investors Service said it placed Expedia, Inc.'s Baa3 $500 million 7.456% senior unsecured notes due 2018 on review for possible downgrade following the company's announcement that it intends to repurchase up to 42% of its common stock through a modified Dutch auction tender, which is expected to begin during the week of June 25 and to expire during the week of Aug. 6.
The review will focus on Expedia's receipt of financing to facilitate its share repurchase, the results of the auction tender and its operating prospects and capital structure going forward. The agency said that if the Dutch auction proceeds as planned and is financed with debt, the rating could potentially be downgraded multiple notches below Baa3.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.