October 25, 2024 08:33 GMT
TRANSPORTATION: TAP Air Portugal (TAPTRA; Ba3/BB-) headlines on bids
TRANSPORTATION
(government owned, tabled for privatisation)
"Air France-KLM wants to take part in the privatisation of Portugal's carrier TAP and is open to various options the government may offer, including purchasing a minority stake, a source familiar with the matter told Reuters." - Reuters
- headlines like above are common enough occurrence - last was Lufthansa looking at 20%/€180m stake
- it is unclear how much will be privatised - it will become a credit mover if government gives over majority to someone else
- Moody's no uplift, S&P 1-notch to Ba3/BB- ratings
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