S&P cuts Sabre to stable

Standard & Poor's said it revised the outlook on Sabre Holdings Corp. to stable from positive.

The agency also said it affirmed its B corporate credit rating.

The outlook revision is based on an expectation of weaker performance primarily due to the company's Travelocity unit in 2011, S&P said.

While the agency said it is still expecting revenue and EBITDA growth in 2011, S&P said it revised the projections downward, thereby pushing out the timeframe for a possible ratings upgrade.

The ratings consider an assumption of fairly stable operating performance, despite difficult ongoing contract discussions with one of Sabre's airline customers and competitive pressure at Travelocity, the agency said.

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