Fitch Assigns H World First-Time Rating of BBB; Outlook Stable
MT Newswires Live
Sep 01
Fitch Ratings assigned H World (HKG:1179) a first-time long-term issuer default rating of 'BBB' with a stable outlook, according to a Monday ratings commentary.
The ratings agency cited H World's strong market position, operating scale, brand recognition and healthy financial profile.
Fitch expects H World's room count to grow by 9%-12% annually over the next three years, supported by expansion in China and gains in market share.
The ratings agency expects EBITDAR net leverage to remain below 2.0x over the medium term, supported by H World's shift toward an asset-light model, rising earnings and strong free cash flow.
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