Moody’s changes Samsonite view to stable

Moody’s Investors Service said it changed Samsonite International SA’s outlook to stable from negative and affirmed its ratings, including the Ba2 secured bank facility rating. Moody's also affirmed Samsonite IP Holdings Sarl's Ba2 secured bank credit facility ratings and Samsonite Finco Sarl's B1 unsecured bond rating. The SGL-1 speculative grade liquidity rating is unchanged.

“The change to a stable from negative outlook reflects Moody's expectation that Samsonite's operating performance will continue to improve over the next 12-18 months as recovery in airline and other travel continues, which will allow the company to sustain good positive free cash flow and reduce leverage. The outlook for the airline industry remains positive as pent-up demand for air travel will contribute to a strong recovery for Samsonite through 2023 and beyond,” the agency said in a press release.

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