Moody's assigns B3 to Motel One notes

Moody's Ratings said it assigned a B3 rating to the senior secured notes issued by One Hotels GmbH (Motel One).

The rating is aligned with Motel One's B3 corporate family ratings and the ratings on Motel One's senior secured term loan B and revolving credit facility ratings, which are unchanged, the agency said.

The proceeds from the senior secured instruments will fully fund the payment for the acquisition of the 35% stake in Motel One from Propium Capital Partners.

The outlook is positive.

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