Moody’s turns Amadeus outlook to stable

Moody’s Investors Service said it changed the outlook to stable from negative and affirmed the Baa2 and (P)Baa2 long-term issuer rating and senior unsecured EMTN program ratings of Amadeus IT Group SA, respectively. Concurrently, Moody's affirmed Baa2 the senior unsecured ratings of Amadeus.

“Today's change in outlook to stable reflects Moody's expectation that Amadeus' financial performance will continue to recover, with revenue increasing towards €4.2 billion and €5 billion, and company-adjusted EBITDA rising to around €1.3 billion and €1.9 billion, in 2022 and 2023, respectively. As a result, Moody's-adjusted leverage is expected to improve from 4x as of June 2022 towards 2.3x as of December 2023,” the agency said in a press release.

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