Moody’s alters eDreams view to negative

Moody’s Investors Service said it changed the outlook to negative from under review and confirmed the B3 corporate family rating of eDreams Odigeo SA. The rating agency also confirmed eDreams’ probability of default rating at B3-PD and confirmed the Caa1 rating on the €425 million of senior secured notes due 2023.

This rating action concludes the review for downgrade that was initiated on April 3, Moody’s said.

“The decision to confirm eDreams’ rating at B3 and change the outlook to negative reflects the significant impact that the coronavirus outbreak and the ensuing economic downturn is expected to have on the company’s financial performance during the course of 2020,” said Fabrizio Marchesi, a Moody’s vice president, senior analyst and lead analyst for the company, in a press release.

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