- Language: English
- Published: July 2012
TUI AG Dec 08
- Published: December 2008
- Standard & Poors
European market leader in tourism and leisure hotels Good geographic diversity, with home bases in both Germany and the U.K. Volatile, competitive, capital-intensive, and heavily seasonal industry with high exposure to event risks Complex structure, significant TUI Travel minorities, and mixed shareholder relations record Uncertainties regarding use of proceeds from sale of Hapag-Lloyd The ratings on Germany-based tourism group TUI AG reflect the group's complex structure, highly leveraged financial risk profile, cash flow leakage to minorities, and exposure to a seasonal and cyclical industry facing ongoing margin pressures and high event risks. These risks are mitigated in part by its market-leading positions in European tourism, as well as its geographically well-diversified sales. On Dec. 3, 2008, Standard & Poor's Ratings...
Companies mentioned in this report are: TUI AG
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