News Formal

S&P downgrades Accor to junk as virus upends hospitality industry

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Indonesia Berita Berita

The cut to BBB- with a negative outlook is set to cost the company tens of millions of euro in additional interest payments

S&P Global Ratings. Picture: REUTERS/BRENDAN MCDERMID

The decision strips Accor of its investment grade status, even though it has a BBB- rating with Fitch, and means it will have to pay additional interest on some of its debt. This means Accor’s interest bill will rise by about €82m over the period, according to Reuters’ calculations; a figure the company confirmed was broadly accurate.

The number of companies or countries at risk of having their credit ratings cut has been pushed to an all-time high by the pandemic, an S&P Global analysis showed in May.

 

Terima kasih atas komentar Anda. Komentar Anda akan dipublikasikan setelah ditinjau.
Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

 /  🏆 12. in İD

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

MARKET WRAP: Surging gold miners pull JSE higherSome hospitality stocks climb on eve of move to level 2 of the lockdown
Sumber: BDliveSA - 🏆 12. / 63 Baca lebih lajut »

No downgrades expected for banks after earnings seasonFitch says SA banks are being prudent by taking severe provisions for expected bad debts upfront
Sumber: BDliveSA - 🏆 12. / 63 Baca lebih lajut »