Moody's rates Priceline notes Baa1

Moody's Investors Service said it assigned a Baa1 senior rating to Priceline Group Inc.'s proposed note offering. The outlook is stable.

The proceeds are expected to be used for general corporate purposes, including share repurchases and acquisitions.

The agency said Priceline's Baa1 rating is supported by the company's leading position in the growing online travel accommodations market, high profitability and sizable free cash flow.

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