Moody’s: Geo Travel outlook to stable

Moody's Investors Service said it changed the outlook on Geo Travel Finance SCA Luxembourg's B2 corporate family rating and B2-PD probability of default rating to stable from positive.

At the same time, the agency affirmed the corporate family and probability of default ratings, as well as the Caa1 rating on the €175 million senior unsecured notes maturing in 2019 and the B3 rating on the €325 million senior secured notes – issued by Geo Debt Finance SCA – maturing in 2018.

The outlooks are stable.

"Our decision to stabilize the outlook reflects the company's worse-than-anticipated first quarter results and downward guidance for the full year," Knut Slatten, Moody's assistant vice president and lead analyst for Geo Travel, said in a news release.

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