London, 10 December 2014 -- Moody's Investors Service has today upgraded to Ba3 from B2 the corporate family rating (CFR) and to Ba3-PD from B2-PD the probability of default rating (PDR) of TUI AG (TUI). Concurrently, Moody's has raised TUI AG's senior unsecured rating to Ba3 from B2, and the junior subordinated rating to B2 from Caa1.

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