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 BB Ba2
Outlook stable


Latest Update Standard & Poor's

February 2017 – Standard & Poor's upgraded its long-term corporate credit rating on TUI from BB- to BB; Outlook “stable”.

S&P’s rating upgrade appreciates TUI's enhanced business risk profile, reflecting TUI’s resilience against negative external events, its strengthened product and geographic diversification in the recent years, and its steadily improving operating margins.

Latest Update Moody's

February 2018 – Moody’s changes outlook on TUI AG’s corporate family rating from stable to positive.

TUI’s outlook upgrade reflects the resilience of TUI's operating performance to geopolitical events, and that the company can deliver on its EBITA guidance. The outlook also assumes that TUI's financial profile will continue to gradually improve, mainly driven by additional profit contribution arising from the redeployed funds invested in Hotels & Resorts as well as Cruises, TUI's new digitalization initiatives, less seasonality of cash flows during the year and a solid underlying performance benefitting from an overall favourable economic environment and growth in travel markets including the ongoing recovery in some of TUI's markets e.g. Turkey.