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Moody's assigns B3 to Motel One loans
Moody's Ratings said it assigned a B3 corporate family rating to One Hotels GmbH (Motel One).
Moody's also assigned a B3-PD probability of default rating and a B3 rating to the 800 million senior secured term loan B due 2031 and the 100 million senior secured revolving credit facility due 2030.
The outlook is positive.
The ratings balance Motel One's good market position as a hotel operator and growth track record with high leverage and moderate cash flow generation, said Oliver Schmitt, vice president senior credit officer and lead analyst for Motel One, in a news release.
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