Moody’s assigns B1 to TUI notes

Moody’s said it assigned a B1 rating to TUI AG’s planned €300 million of backed senior unsecured notes.

"The instrument rating is in line with B1 corporate family rating (CFR),” said Elise Savoye, Moody’s lead analyst for TUI, in a press release.

The proceeds will be used to refinance the €197 million of revolver draws and €100 million of bank loans.

The outlook is positive.

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