Fitch rates Orascom Hotel bond B(egy)

Fitch Ratings said it assigned Orascom Hotel Holdings a national long-term rating of B(egy), with stable outlook. At the same time, the agency has assigned Orascom Hotel's EGP100 million bond a national rating of B(egy).

Fitch said the rating reflects the company's position as a major player and the largest private sector hotel-owning company in the Egyptian tourism industry.

The rating also considers the company's shareholding structure with the Sawiris family's strong reputation and connections within the investment community in Egypt, according to Fitch.

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