The credit rating agency FITCH has announced a BBB+ rating for Sol Meliá, the second best credit rating amongst the world’s hotel companies, behind only Bass, and making it the only Spanish hotel company with such a rating. Sol Meliá shares the rating with prestigious companies such as Accor, Hilton Group Corporation and Cendant Corporation and is rated above major companies such as Starwood Hotels and Hilton Hotels Corporation (USA).
The decision was the result of an analysis of the company’s financial ratios in the light of recent investments made by Sol Meliá, as well as the future prospects of the company. The FITCH agency has also given a positive view on the implementation of a number of measures that the company is putting in place to improve its balance sheet, measures which have lowered the company’s debt ratio to only71.4%.
Along the same lines, a few months ago Standard & Poor’s also granted a BBB (stable) rating to Sol Meliá, placing Sol Meliá once again in a unique position in Spain and in second position in the world with regard to credit rating, just behind Marriott International, a company that focuses exclusively on hotel management.
These ratings provide further support for the capacity of Sol Meliá to obtain greater resources on the capital markets, something that the company is currently seeking in order to diversify its sources of finance. After the purchase of TRYP Hotels, Sol Meliá now provides more than 350 hotels in 30 countries on 4 continents.