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S&P rates Covivio Hotels BBB
S&P said it assigned its BBB long-term issuer credit rating to Covivio Hotels (formerly Fonciere des Murs). The outlook is positive.
“Our rating on Covivio Hotels factors in the company's high exposure to good locations. About 80% of the portfolio is in major European cities attracting more than two million visitor nights per year, against only 58% in 2015 and 65% in 2016, with an objective of reaching 100% by 2022,” S&P said in a news release.
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