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||Standard & Poor's||Moody's|
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.