Travelport could seek Chapter 11By Johanna Jainchill,
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Travelport Holdings,
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The company asked the lenders to extend Travelport’s loan maturity from March 2012 until 2016,
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Results of the lenders’ vote were not known at presstime,
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The loan,
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The proceeds of the loans were used to pay dividends to those investors.

"Travel agents will be unaffected by this process,
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Ekert added: "Our parent holding company amending its debt will ultimately be beneficial to Travelport Ltd. and provide us with stronger financial footing,
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Still,
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Standard Poor’s lowered its long term corporate credit ratings on Travelport Holdings and gave it a "negative" outlook. It also lowered its long term rating on Travelport’s senior secured and unsecured debt. S cited the company’s announcement of a capital restructuring, "which has become necessary because of the group’s high leverage, weak liquidity" and the PIK loan maturation.

"We view this restructuring as a ‘distressed exchange’ and tantamount to a default," S said.

Henry Harteveldt,
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"Things like this are very, very strategically important for the company’s future survival and prosperity,
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Throughout it all, Harteveldt said,
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"Travel management companies and travel agencies may look at this and say,
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Blackstone Group acquired the company from Cendant Corp. for $4.3 billion in 2007,
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Travelport launched a $1.8 billion initial public offering last year,
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The company has long been saddled with debt,
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