Fitch assigns BB- to Motel One notes

Fitch Ratings said it assigned One Hotels GmbH's (Motel One) planned €500 million of senior secured notes an expected BB- senior secured debt rating with an RR3 recovery rating.

The ratings match those on the issuer’s planned senior secured term loan.

The company plans to use proceeds, including the notes alongside an €800 million term loan B, to refinance bridge facilities obtained to finance the buyout of a minority shareholder's 35% stake.

The outlook is stable.

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