Moody’s revises Awaze view to negative

Moody’s Investors Service said it changed the outlook to negative from under review and confirmed the corporate family rating of B3 and probability of default rating of B3-PD assigned to Compass III Ltd. (Awaze).

Concurrently, Moody’s confirmed the B2 rating on the senior secured facilities and the Caa2 rating on the second-lien loan issued by Awaze Ltd.

The outlook reflects the continued uncertain prospects for the leisure industry, with risks of extended disruption to travel, causing further strain on the company’s key credit ratios, the agency said.

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