Ratings published by independent rating agencies are a key prerequisite for efficient and flexible access to the capital market. They assist debt capital market investors in evaluating the risk situation of companies and their financial instruments.

Corporate Rating

Corporate Rating Standard & Poor's Moody's 
Long-term B B2
Outlook positive


Latest Update Moody's

May 2023 – Moody’s upgrades from 'B3' to 'B2' rating with a positive outlook.

The rating action reflects TUI’s improved credit metrics and strengthened balance sheet and liquidity following the completion of its right issue, which raised around €1.8 billion, and the extension of its RCF maturities to July 2026 from July 2024. Moody’s expects continued earnings improvement on the back of the strong summer bookings to facilitate further de-leverage.

Latest Update Standard & Poor's

April 2023 - Standard & Poor's upgrades from 'B-' to 'B' rating with a positive outlook.

The rating upgrade reflects the improved capital structure following our capital increase carried out in April.

The positive outlook reflects S&P's expectation that TUI will reduce the adjusted leverage ratio to below 3.0x following the capital increase carried out and the subsequent repayment of government-related obligations.