Moody’s alters PortAventura to positive

Moody’s Investors Service said it changed its outlook for International Park Holdings BV (PortAventura) to positive from stable and affirmed the B3 ratings on the company and its €640 million guaranteed senior secured term loan due 2026.

“The positive outlook reflects PortAventura's strong operating performance in 2023 and Moody's expectation that the company's leverage, on a Moody's adjusted basis will decline to below 5.5x over the next 12-18 months. The positive outlook also incorporates Moody's expectation that PortAventura's FCF, on a Moody's adjusted basis, will turn positive in 2024 and that the company will maintain an adequate liquidity,” the agency said in a press release.

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