Report

Amadeus IT Holding SA : Initiation of Amadeus’ coverage on the credit side

>Initiation of Amadeus’ coverage on the credit side - We are initiating Amadeus’ coverage on the credit side with a Negative credit opinion with regards to the expected increase in leverage on the back of the Covid-19 crisis. We reckon though that the group has a fairly resilient business model historically-speaking and reacted in an efficient manner to the pandemic with a savings plan and several financing measures leading to a solid liquidity position as of to...
Underlying
Amadeus IT Group SA Class A

Amadeus is a transaction processor for the global travel and tourism industry. Co. provides transaction processing power and technology solutions to both travel providers (including full service carriers and low-cost airlines, hotels, rail operators, cruise and ferry operators, car rental companies and tour operators) and travel agencies (both online and offline). Co. acts both as a worldwide network connecting travel providers and travel agencies through a processing platform for the distribution of travel products and services (through the Distribution business), and as a provider of a portfolio of IT solutions which automate certain business processes (through the IT solutions business).

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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