Avolta AG Achieves S&P Global Ratings Upgrade to BB+ with Comprehensive Growth Strategy

Avolta AG, a global leader in the travel experience sector, has successfully secured an upgrade of its credit rating from S&P Global Rating from BB to BB+ with a stable outlook. This achievement reflects the company's strong operational performance in 2023 and its strategic financial policy adjustments. Moreover, Avolta's swift and successful integration with Autogrill, completed ahead of schedule, played a crucial role in this upgrade.

In its report, S&P Global Ratings highlighted Avolta's remarkable operational success in 2023, driven by a robust recovery in passenger traffic. Avolta's development of a competitive edge, improved market position, and broadened commercial offerings were particularly noted. The integration of Dufry and Autogrill not only concluded faster than anticipated but also significantly enhanced Avolta's business model through increased scale, geographical diversification, and an enriched product portfolio.

The S&P report also shed light on Avolta's prudent new capital allocation policy, described as more conservative than its pre-pandemic strategy. This policy, combined with Avolta's operational effectiveness, is expected to foster strong credit metrics in the mid-term. Avolta's Chief Financial Officer, Yves Gerster, expressed satisfaction with the upgrade, highlighting the company’s resilience and the reinforcement of its strategic direction towards the "Destination 2027" vision.