trending Market Intelligence /marketintelligence/en/news-insights/trending/9ptczcyub4metohgmkggca2 content esgSubNav
In This List

Fitch affirms ratings on Accor SA

Blog

Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Insight Weekly: Inflation eases; bank M&A slows; top companies boost market share

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet


Fitch affirms ratings on Accor SA

Fitch Ratings affirmed its long-term issuer default on Accor SA, which operates under the AccorHotels brand, at BBB-, with a positive outlook.

The rating agency also maintained its BBB- long-term senior unsecured and F3 short-term issuer default and short-term debt ratings on the French hotel group. Fitch, which removed Accor from rating watch evolving, also affirmed its rating on the company's subordinated perpetual bond at BB.

In its note, Fitch said its positive outlook for Accor's issuer default rating reflects the group's shift to an asset-light business model, on the back of the completion of the €4.4 billion divestment of a 55% stake in the company's property arm, AccorInvest, to a number of investors. The rating agency further noted that it is expecting the business shift to also result in enhanced profitability and deleveraging.