Fitch lifts NH Hotel, notes

Fitch Ratings said it upgraded NH Hotel Group SA's long-term issuer default rating to B+ from B.

The agency also raised the company’s senior secured rating.

The outlook is positive.

Fitch said the upgrade reflects a marked improvement in NH's operating performance and leverage metrics.

“The improvement capex plan deployed since 2015, coupled with a more efficient cost structure and effective pricing management, has enabled NH to reposition its offer along a more upscale segment, reduce costs and increase profit margin. NH has also reduced its gross debt levels,” the agency said in a news release.

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