Moody’s gives A&O Hotels, facilities B2

Moody's Investors Service said it assigned B2 corporate family rating and B2-PD probability of default rating to Alpha Group Sarl (A&O Hotels and Hostels).

The agency also assigned provisional B2 senior secured facility ratings to the company’s proposed term loan B and revolving credit facility currently being marketed.

The outlook is stable.

"Our rating action today balances A&O's resilient business, good liquidity and solid asset backing with small size and material leverage," Maria Maslovsky, Moody's vice president, senior analyst and the lead analyst for A&O Hotels & Hostels, said in a news release.

The instrument rating for A&O's proposed senior secured facility is the same as the corporate family rating reflecting its position as the only class of debt in the capital structure, the agency noted.

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