Fitch rates Vista Global notes BB-

Fitch Ratings said it assigned Vista Global Holding Ltd.’s $500 million notes due 2027 a BB- rating with a recovery rating of RR3.

The notes are jointly issued by XO Management Holding Inc. and VistaJet Malta Finance plc, and guaranteed by Vista Global and key operating companies of XO Group Holding Ltd. and VistaJet Group Holding Ltd.

The proceeds, along with the company's own liquidity, will be used to finance the cash consideration payable for the acquisition of Air Hamburg and Jet Edge.

“The rating is aligned with the company's outstanding unsecured $1 billion notes due 2030, reflecting the pari passu ranking with other senior unsecured debt, the similar financial draft documentations and the average recovery prospects,” the agency said in a news release.

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