Accor : Accor est de retour en Investment Grade
Il y a un an, dans notre dernière étude, nous avions relevé notre Avis Crédit à Positif et conseillé d’acheter les obligations ACFP 28 et les hybrides Perp.Call 24 et Perp.Call 25, estimant qu’Accor avait la capacité de retrouver un profil Investment Grade d’ici fin 2023, début 2024. Le processus a même été un peu plus rapide que ce que nous avions escomptés, le groupe ayant été upgradé à BBB- par Fitch en avril, puis par S&P en septembre. Dorénavant, ayant regagné un profil de c...Accor is a hotel operator. Co. offers its guests and partners the expertise of a hotel operator and brand franchisor (HotelServices) and a hotel owner and investor (HotelInvest). Co. divides its activities into three segments: Luxury-upscale, Midscale and Economy. Luxury-upscale makes up 11% of Co.'s portfolio and comprises brands such as Sofitel, Pullman, MGallery, and Grand Mercure; Midscale makes up 43% of its portfolio and comprises the Novotel, Suite Novotel, Mercure and Adagio brands; and Economy makes up 46% the Co.'s portfolio, comprising the brands ibis, ibis Styles, ibis budget and hotelF1. At Dec 31 2013 Co. operated around 3,600 hotels and 460,000 rooms in 92 countries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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