Moody's stabilizes Vista Global outlook

Moody's Ratings said it changed its outlook for Vista Global Holding Ltd., VistaJet Malta Finance plc and Vista Management Holding Inc. to stable from positive and affirmed the B3 ratings on Vista Global and its backed senior unsecured notes.

"The stabilization of the outlook follows the weaker-than-expected performance in 2023 driven by lower aircraft availability from the maintenance program and our expectations that Vista Global's credit metrics will not improve to levels commensurate with a higher rating in the next 12-18 months," said Dirk Goedde, a Moody's vice president, senior analyst and lead analyst of vista global, in a press release.

"While we recognize the increasing membership base which provides some revenue visibility, the company's profitability remained at around 11% of Moody's adjusted EBITA margin, indicating ongoing cost pressure and ultimately resulted in negative free cash flow generation in 2023," Goedde added.

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