Moody's assigns Caa1 to Vista Global notes

Moody's Investors Service said it assigned a Caa1 rating to the $500 million backed senior unsecured notes to be issued by VistaJet Malta Finance plc (VistaJet) and co-issued by XO Management Holding Inc.

At the same time, the rating agency affirmed the B3 corporate family rating and the B3-PD probability of default rating of Vista Global Holding Ltd. (Vista Global).

Concurrently Moody's affirmed the Caa1 rating of the existing backed senior unsecured notes issued by VistaJet Malta Finance and co-borrowed by XO Management Holding.

The outlook on all ratings has been changed to stable from positive.

Vista Global is acquiring Air Hamburg, Europe's leading charter operator with a fleet of 44 aircraft, and Jet Edge, the fifth largest branded charter operator globally with a fleet of over 40 aircraft and approximately 60 managed aircraft. The proceeds of the planned issuance will be used to partially finance the acquisition of Air Hamburg and Jet Edge along with covering financing expenses.

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