Fitch Affirms Vista Global at B+; Outlook Stable

Fitch Ratings has affirmed Vista Global Holding Limited’s Long-Term Issuer Default at B+ with a Stable Outlook.

The rating agency also affirmed the senior unsecured ratings on the bonds issued by VistaJet Malta Finance P.L.C. and Vista Management Holding Inc. at BB- with a Recovery Rating of RR3.

Per Fitch, Vista and key operating companies guarantee the notes.

The Issuer Default Rating, or IDR, “reflects Vista’s global market position in a fragmented market, diversification and growing share of contracted revenue, but also niche operations, concentrated ownership with key man risk and volatility in on-demand services.”

Fitch rating definitions are here.

Fitch adds, “Vista recently announced a $600 million equity-like…