S&P revises Travelport to positive

Standard & Poor’s said it revised to positive from stable the outlook on Travelport Worldwide Ltd.

The agency also said it affirmed the company’s B- long-term corporate credit rating.

The outlook revision follows the completion of Travelport’s initial public offering and subsequent repayment of debt, S&P said, and reflects an expectation that these events will improve Travelport’s credit metrics and stand-alone credit profile.

The ratings reflect the company’s fair business risk profile and highly leveraged financial risk profile, the agency said.

The ratings also consider its historically weak standing in the capital markets despite recent demonstrated access, S&P said, and its track record of distressed-debt exchanges and debt-maturity extensions.

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