Minor International Pcl. (“MINT”), one of the world’s largest hospitality and leisure companies, is pleased to announce that its key subsidiary, NH Hotel Group S.A (“NH”), has received an upgrade of corporate family rating, default rating and its senior secured notes instrument rating from Moody’s Investors Service (“Moody’s”). These upgrades reflect the better-than-expected improvement in NH’s key credit metrics, as well as its improving financial performance and credit profile.
MINT’s short- to medium-term strategy involved a series of initiatives aimed at growing the group’s sales and profitability. These initiatives included demand-driven RevPar increase and pro-active cost efficiency improvement. Recent strong results of NH, the largest revenue and…
