S&P lowers Expedia outlook to negative

Standard & Poor's said it revised its outlook on Expedia Inc. to negative from stable, reflecting the company's more aggressive financial policy and some uncertainty regarding the company's intermediate-term financial plans.

At the same time, the agency said it affirmed all its ratings, including its BBB- corporate credit rating, on the company.

The agency added that the ratings reflect Expedia's leading market share in the online travel agency niche, its broad portfolio of brands and services and strong discretionary cash flow.

These factors are partially offset by intense industry rivalry and shifting supplier dynamics, S&P said.

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