London, 30 March 2015 -- Moody's Investors Service has affirmed the Ba3 corporate family rating (CFR), and Ba3-PD probability of default rating (PDR) of Dufry AG ("Dufry" or "the company") as well as the Ba3 guaranteed senior unsecured notes of Dufry Finance S.C.A. The outlook on the ratings is stable. The rating action follows the announcement that the company has signed a definitive agreement for the acquisition of the Benetton Family's 50.1% stake in World Duty Free S.p.A. ("WDF"). The acquisition of the Benetton Family shares in WDF will be followed by a mandatory takeover offer for the remaining 49.9% outstanding shares, which are listed in the Milan Stock Exchange. Dufry will offer EUR10.25 per WDF share in cash, equivalent to an enterprise value of approx. EUR3.6 billion (CHF3.8 billion) including net debt acquired of EUR970 million.

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