Moody’s upgrades Oyo’s rating to B2, highlights improved profitability

Global rating agency Moody’s has upgraded Oravel Stays Limited’s (Oyo) corporate family rating (CFR) from “B3” to “B2”.

Sweta Patodia, Assistant Vice President and Analyst, Moody’s Ratings said the upgrade also highlights Oyo’s improved profitability over recent quarters. This has significantly strengthened its credit metrics.

This upgrade follows the proposed refinancing of Oyo’s existing term loan through another credit. This transaction is expected to alleviate the company’s refinancing risk.