Moody's rates TUI notes B1

Moody's Investors Service said it assigned a provisional rating of B1 to TUI AG's proposed subordinated notes.

The outlook is stable.

The rating of B1 is two notches from the company's Ba2 corporate family rating, reflecting the deeply subordinated nature of the proposed notes, the agency said.

Moody's expects the impact of the issuance of the subordinated notes to be marginal for TUI's debt-protection measures.

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