Moody's: gategroup view stable

Moody's Investors Service said it changed the outlook on the ratings of gategroup Holding AG to stable from positive.

The stabilization of the outlook reflects Moody's view that it is unlikely to upgrade gategroup's ratings in the near term, the agency said.

This in turn reflects the weaker than expected operating profitability of the company during the first nine months of 2012 combined with a weaker macroeconomic outlook for 2013-14 which is expected to affect global air traffic and passenger airlines.

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