Rating Action: Moody’s affirms eDreams’ B3 CFR; outlook negativeGlobal Credit Research – 14 Jan 2022Paris, January 14, 2022 — Moody’s Investors Service (“Moody’s”) has today affirmed eDreams Odigeo S.A.’s (eDreams or the company) B3 corporate family rating (CFR) and B3-PD probability of default rating (PDR). Concurrently, the rating agency has assigned a Caa1 rating to the company’s proposed E375 million guaranteed senior secured notes due 2027. The proceeds of the notes will be used, along with E50 million of cash proceeds from eDreams’ recent E75 million equity issuance, to refinance the company’s existing E425 million senior secured notes due 2023. The Caa1 rating on the existing senior secured notes will be withdrawn once they are fully repaid. The outlook on all ratings remains negative.”eDreams’ recent E75 million equity raise and the refinancing of the existing notes are credit positive events, in that they reduce the quantum of the company’s outstanding debt and extend the…