Moody’s changes TUI view to stable

Moody’s Investors Service said it changed TUI AG’s outlook to stable from negative and affirmed its Caa1 corporate family and senior unsecured ratings as well as its Caa1-PD probability of default rating.

“Our decision to stabilize TUI’s rating outlook reflects the sizeable liquidity injection provided by three support packages with a total amount of €4.8 billion. This has largely covered an exceptionally high cash burn in fiscal 2020 and provides a significant buffer for potential further cash consumptions in a still highly challenging market environment,” said Vitali Morgovski, a Moody’s assistant vice president and lead analyst for TUI, in a press release.

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