Business StandardCenter·
Fitch revises Oyo parent's outlook to positive, sees potential deleveraging
Fitch Ratings has revised the outlook on OYO parent Oravel Stays' long-term foreign and local-currency issuer default ratings (IDRs) to 'positive' from 'stable', reflecting its view that OYO will deleverage driven by EBITDA growth. The parent entity of the hospitality major has been re-named to PRISM from 'Oravel Stays'. Fitch has also affirmed the rating on the USD 830 million senior secured term loan issued by its-fully owned subsidiary, Oravel Stays Singapore Pte Limited, at 'B' with a Recov…
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