Avolta receives Moody’s upgraded credit rating to Ba2 with Stable Outlook
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Avolta AG
/ Key word(s): Miscellaneous
Avolta AG (SIX: AVOL), the leading global travel experience player, confirms its upgraded credit rating from Ba3 to Ba2 with Stable outlook according to Moody’s Investment Service announcement yesterday. The credit rating upgrade follows the successful closing of the business combination with Autogrill in 2023 as well as the company’s strong 2023 financial performance, the announcement of a balanced capital allocation policy and the solid trading environment in 2024. In the rating report, published on March 27, 2024, Moody’s referred to Avolta’s continued strong organic revenue growth and improved profitability in 2023. According to Moody’s, the combination with Autogrill was credit-enhancing due to the increase in scale, product and channel diversification. Additionally, the combination has been financed mainly through shares. For further information:
End of Media Release |
Language: | English |
Company: | Avolta AG |
Brunngässlein 12 | |
4010 Basel | |
Switzerland | |
Phone: | +41612664444 |
E-mail: | [email protected] |
Internet: | https://www.avoltaworld.com/ |
ISIN: | CH0023405456 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1869323 |
End of News | EQS News Service |
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1869323 28.03.2024 CET/CEST
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