Fitch revises Accor view to negative

Fitch Ratings said it revised Accor SA's outlook to negative from stable, while affirming the hotel group's long-term issuer default rating at BBB-.

The outlook changes reflects weaker-than-expected deleveraging prompted by the severe operational disruption in the lodging sector, one of the sectors severely hurt by the Covid-19 outbreak. This situation is exacerbated by Accor's low rating headroom, as gross leverage has been above Fitch’s negative sensitivity for the past two years.

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