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Moody’s lifts eDreams Odigeo
Moody’s Investors Service said it upgraded the corporate family rating of eDreams Odigeo SA to B1 from B2 and upgraded the company's probability of default rating to B1-PD from B2-PD.
The agency also upgraded the rating on the company's €425 million senior secured global notes due 2021 to B2 from B3.
The outlook was changed to stable from positive.
Moody’s said the action reflects the company's continued deleveraging profile with Moody's-adjusted debt at 3.8 times at March 31, strong EBITDA growth in the fiscal year 2018 ended March 31 and the company's position as the leading European flight-centric online travel agency.
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