S&P affirms Orbitz at B

Standard & Poor's said it affirmed its B rating on Orbitz Worldwide Inc., along with all related issue-level ratings on the company. The ratings were removed from CreditWatch, where they were placed with negative implications Sept. 21.

"The rating action is based on Travelport Holdings Ltd. completing its restructuring, which has alleviated near-term financial risk for Orbitz's strategic partner and major shareholder," explained S&P credit analyst Andy Liu in a news release. "We were previously concerned that financial distress at Travelport could cause it to attempt to extract financial resources from Orbitz that could, in turn, pressure Orbitz's liquidity and covenant compliance."

The B corporate credit rating reflects S&P's expectation that Orbitz's operating results will be somewhat weak due to competitive pressures and ongoing technology migration efforts, the agency said.

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