Rating agency Moody’s has lifted its rating outlook for TUI Group from stable to positive, citing the Group’s strong operating performance in financial year 2017 and its continued robustness vis-à-vis geopolitical events.
According to Moody’s, TUI’s current liquidity benefits from the sale of non-core businesses. The Group had divested its specialist tour operator Travelopia, its bedbank Hotelbeds and its stake in Hapag-Lloyd Container Shipping. According to the rating agency, the Group’s credit profile will also benefit from the planned reinvestment of the disposal gains in hotels and cruises, its core businesses.
Moody’s Investors Service also confirmed TUI’s Corporate Family Rating (CFR) and Senior Unsecured Rating of Ba2 each.