Moody’s lifts Odigeo to stable

Moody’s Investors Service said it changed to stable from negative the outlook on the ratings of Geo Travel Finance SCA Luxembourg (Odigeo).

The outlook change considers the company’s strong recovery in trading performance and de-leveraging in the year that ended March 31, Moody’s said, along with expectations of a continuation of conservative financial policies that will support further de-leveraging.

The stable outlook also reflects continued growth in the European online travel agency sector, supported by increasing travel volumes and low exposure to the United Kingdom, the agency said.

Moody’s also said it has affirmed the company’s B2 corporate family rating and B2-PD probability of default rating, as well as the Caa1 rating on its €129 million senior unsecured notes due in 2019.

The agency also said it affirmed the B3 rating on the €295 million senior secured notes due in 2018 issued by Geo Debt Finance SCA.

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