Accor's Brand Advantage Supported by Its Expanding Luxury and Lifestyle Presence
As demand continued to recover, Accor's debt/adjusted EBITDA reached 3.9 times in 2022, 2.5 times in 2023, and 2.8 times in 2024. In 2023, Fitch Ratings upgraded Accor's debt to investment-grade.
Morningstar3h
Upgrading Heineken’s Moat Rating to Wide From Narrow With More Long-Term Confidence
We believe net debt/EBITDA below 2 times is maintainable in the steady ... margin by at least 50 basis points over the next five years and maintain its interest coverage ratio of 7 times. We are ...