Fitch Ratings upgrades OYO parent Oravel Stays rating
27 May 2024
Fitch Ratings on Monday announced it has upgraded the rating of OYO parent firm Oravel Stays, citing the hospitality company’s improved financial profile. Fitch upgraded Oravel Stay’s long-term foreign and local currency issuer default ratings to ‘B’ from ‘B-‘ with a ‘Stable’ outlook, according to a statement. It has also upgraded the rating on the USD 660-million senior secured term loan facility due 2026 to ‘B’ from ‘B-‘.
Fitch Ratings on Monday announced it has upgraded the rating of OYO parent firm Oravel Stays, citing the hospitality company’s improved financial profile. Fitch upgraded Oravel Stay’s long-term foreign and local currency issuer default ratings to ‘B’ from ‘B-‘ with a ‘Stable’ outlook, according to a statement. It has also upgraded the rating on the USD 660-million senior secured term loan facility due 2026 to ‘B’ from ‘B-‘.
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