DUFRY INTERNATIONAL AG Avolta secures S&P Global Ratings Upgrade to BB+ with Outlook Stable
Transparency directive : regulatory news
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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 S&P Global Rating from BB to BB+ with Outlook Stable, as announced by the rating agency yesterday. Based on Avolta’s strong 2023 operating performance and tightened financial policy, the credit rating upgrade also underscores the successful integration with Autogrill which was achieved ahead of schedule. In the rating report, published on April 3, 2024, S&P Global Ratings highlights the strong operating performance in 2023 on the back of sound passenger traffic recovery. The agency also observed Avolta’s development of a “solid competitive edge”, with an enhanced market position and more comprehensive commercial package. S&P’s stable outlook reflects their expectations of Avolta’s continued sound operating performance fueled by continued growth in traffic and successful execution of its global strategy. Avolta’s new capital allocation policy is seen as prudent and more conservative than its pre-pandemic approach, according to the agency, which when combined with the operating performance, is expected to result in the delivery of strong credit metrics in the medium term. For further information:
News Source: Avolta AG
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| Language: | English |
| Company: | Avolta AG |
| Brunngässlein 12 | |
| 4010 Basel | |
| Switzerland | |
| Phone: | +41612664444 |
| E-mail: | Headoffice@dufry.com |
| Internet: | https://www.avoltaworld.com/ |
| ISIN: | CH0023405456 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1872829 |
| End of News | EQS News Service |
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1872829 04.04.2024 CET/CEST