S&P rates Priceline notes BBB+

S&P said it assigned a BBB+ rating to the Priceline Group Inc.'s proposed euro-denominated senior unsecured notes due 2022.

The proceeds will be used for general corporate purposes, including share repurchases, the agency said.

The rating is at the same level as the company’s corporate credit rating.

Pro forma for the debt offering, S&P said it expects Priceline to maintain a net cash position with no debt leverage.

The ratings reflect Priceline's modest financial risk profile, significant cash balances, lack of net debt leverage and strong discretionary cash flow generation, S&P said.

The ratings are partially offset by potential travel disruption-related volatility, the agency said.

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