Amex GBT Receives Credit Rating Upgrade; S&P Global Ratings Upgrades the Company to B+
12 Dezembro 2023 - 3:56PM
Business Wire
American Express Global Business Travel, which is operated by
Global Business Travel Group, Inc. (NYSE: GBTG) (“Amex GBT” or the
“Company”), the world’s leading B2B travel platform, today
announced that it has received an upgrade from S&P Global
Ratings (“S&P”) to its issuer credit rating to ‘B+’ from ‘B-‘
on rapid deleveraging and positive cash flows with a stable
outlook. At the same time, S&P raised its issue-level ratings
by two notches in conjunction with the upgrade.
The upgrade reflects S&P’s view that market share gains and
operating leverage will continue to support good operating
performance and points to “continued underlying strength in
business travel, strong momentum within the small to midsize
enterprise (SME) segment (specifically from the unmanaged
category), higher growth in Asia-Pacific, strength in hotel and air
transactions, and continued share gains across both global
multinational and SMEs.”
Karen Williams, CFO of Amex GBT, stated: “We are pleased with
the credit rating upgrade, which is a critical proof point that
reflects our momentum and focus on the balance sheet. The upgrade
is further recognition of our commitments to 1) achieving
outstanding financial results by growing revenue, growing Adjusted
EBITDA and increasing Free Cash Flow, 2) continued margin
improvement and 3) creating capacity to invest and drive long-term
sustained growth.”
About American Express Global Business Travel
American Express Global Business Travel is the world’s leading
B2B travel platform, providing software and services to manage
travel, expenses, and meetings & events for companies of all
sizes. We have built the most valuable marketplace in B2B travel to
deliver unrivalled choice, value and experiences. With travel
professionals in more than 140 countries, our customers and
travelers enjoy the powerful backing of American Express Global
Business Travel.
Visit amexglobalbusinesstravel.com for more information about
Amex GBT. Follow @amexgbt on Twitter, LinkedIn and Instagram.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made in this press release are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act and Section 21E of the Exchange Act.
“Forward-looking statements” made in connection with the exchange
offer and consent solicitation are not within the safe harbors
provided by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements provide our current expectations or
forecasts of future events. Forward-looking statements include
statements about our expectations, beliefs, plans, objectives,
intentions, assumptions and other statements that are not
historical facts. Words such as “estimates,” “projected,”
“expects,” “estimated,” “anticipates,” “suggests,” “projects,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,”
“will,” “would,” “should,” “could,” “future,” “propose,” “target,”
“goal,” “objective,” “outlook” and variations of these words or
similar expressions (or the negative versions of such words or
expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside the control of the parties, that
could cause actual results or outcomes to differ materially from
those discussed in the forward-looking statements. Important
factors, among others, that may affect actual results or outcomes
include: (1) changes to projected financial information or our
ability to achieve our anticipated growth rate and execute on
market opportunities; (2) our ability to maintain our existing
relationships with customers and suppliers and to compete with
existing and new competitors in existing and new markets and
offerings; (3) various conflicts of interest that could arise among
us, affiliates and investors; (4) our success in retaining or
recruiting, or changes required in, our officers, key employees or
directors; (5) intense competition and competitive pressures from
other companies in the industry in which we operate; (6) factors
relating to our business, operations and financial performance,
including market conditions and global and economic factors beyond
our control; (7) the impact of the COVID-19 pandemic, Russia’s
invasion of Ukraine and related changes in base interest rates,
inflation and significant market volatility on our business, the
travel industry, travel trends and the global economy generally;
(8) the sufficiency of our cash, cash equivalents and investments
to meet our liquidity needs; (9) the effect of a prolonged or
substantial decrease in global travel on the global travel
industry; (10) political, social and macroeconomic conditions
(including the widespread adoption of teleconference and virtual
meeting technologies which could reduce the number of in person
business meetings and demand for travel and our services); (11) the
effect of legal, tax and regulatory changes; and (12) other factors
detailed under the section entitled “Risk Factors” in the
Prospectus/Offer to Exchange.
The forward-looking statements contained in this press release
are based on our current expectations and beliefs concerning future
developments and their potential effects on us. There can be no
assurance that future developments affecting us will be those that
we have anticipated. These forward-looking statements involve a
number of risks, uncertainties (some of which are beyond our
control) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by these forward-looking statements. These risks and
uncertainties include, but are not limited to, those factors
described under the heading “Risk Factors” in the Prospectus/Offer
to Exchange. Should one or more of these risks or uncertainties
materialize, or should any of our assumptions prove incorrect,
actual results may vary in material respects from those projected
in these forward-looking statements. We undertake no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required under applicable securities laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231212217680/en/
Media: Martin Ferguson Vice President Global
Communications and Public Affairs martin.ferguson@amexgbt.com
Investors: Jennifer Thorington Director Investor
Relations investor@amexgbt.com
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