S&P turns Tripadvisor view to negative

S&P said it changed Tripadvisor Inc.’s outlook to negative from stable but affirmed all its ratings, including the BB- and 3 recovery ratings on its senior unsecured notes.

“Given the varying vaccination rates worldwide and the virus mutations, it remains uncertain when the industry will recover. Consequently, we now expect Tripadvisor's 2021 operating results will be weaker, and we believe leverage will well exceed our 3x downside threshold in 2021, although we expect its credit metrics will improve in 2022,” S&P said in a press release.

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