Moody’s revises TUI view to positive

Moody's Investors Service said it confirmed the Ba3 corporate family rating, Ba3-PD probability of default rating and Ba3 senior unsecured rating of TUI AG, and changed the outlook to positive.

The action concludes the review implemented on June 16.

"Our decision to change the outlook to positive reflects the reduction in TUI's adjusted debt, following revisions to the way we capitalize operating leases. It also considers ongoing improvements to TUI's underlying operating performance, despite heightened security concerns in Tunisia and volatility in Greece," Sven Reinke, Moody's vice president, senior credit officer and lead analyst for TUI, said in a news release.

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