Moody’s pegs Vista Global, parent of XO, XOJET Aviation, and VistaJet on review for a possible downgrade while Fitch revises its outlook to stable
Last week, Moody’s Investors Service placed the ratings of Vista Global Holding Ltd. and VistaJet Malta Finance P.L.C. on review for downgrade. The outlook on both entities has been changed to ratings under review from stable. Then yesterday, Fitch Ratings revised its outlook on its long-term Issuer Default Rating (IDR) to stable from negative and affirmed the IDR at ‘B.’
Fitch has also affirmed the senior unsecured rating on the outstanding $550 million 10.5% notes due 2024 issued by XO Management Holding, Inc. and VistaJet Malta Finance PLC at ‘B+’/RR3. The bonds are guaranteed by Vista and XO Group Holding Limited and VistaJet Group Holding Limited (VistaJet) and their main subsidiaries.
