S&P: Travelport on positive watch

Standard & Poor's said it placed its B- long-term corporate credit ratings on Travelport LLC and its indirect parent Travelport Holdings Ltd. on Creditwatch with positive implications.

The agency said it also placed all the debt ratings on Creditwatch with positive implications.

This follows the announcement that Travelport is seeking a listing at the London Stock Exchange, S&P said, adding that the Creditwatch placement reflects its view of the potential strengthening of Travelport LLC and Travelport Holdings Ltd.'s financial profile likely to stem from its proposed initial public offering, which the company expects to raise about $2 billion in capital.

Furthermore, the Blackstone affiliate Technology Crossover Ventures and One Equity Partners and Travelport's management will potentially sell additional shares equal to up to 15% of the offer in the event of over-allotment, according to Travelport, S&P added.

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