S&P cuts Expedia's rating to junk; Moody's may cut too

(Reuters) - Expedia said on Tuesday it would buy back shares for up to
$3.5 billion, at a premium of at least 8 percent to Monday's
closing price. For details, see [ID:nN19474106].




"This represents a dramatic change in Expedia's previously
investment-grade financial policy," S&P said in a statement.


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