Moody’s raises Global Blue CFR, debt to Ba3

Moody's Investors Service said it upgraded Global Blue Finance Sarl’s corporate family rating to Ba3 from B1, probability of default rating to B1-PD from B2-PD and the senior secured instruments of Global Blue Acquisition BV, a fully owned and guaranteed subsidiary of Global Blue, to Ba3 from B1.

All ratings have a stable outlook.

"Our decision to upgrade Global Blue's rating reflects both the company's fundamental operating performance and a reduction in the company's adjusted debt, following an update to Moody's approach for capitalizing operating leases," Guillaume Leglise, Moody's analyst for Global Blue, said in a news release.

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