Moody's upgrades OYO parent Oravel Stays rating; outlook stable

Moody's Ratings has upgraded the corporate family rating (CFR) of Oravel Stays Limited -- travel tech platform OYO's parent firm -- and the rating on the senior secured term loan issued by its wholly-owned subsidiary OYO Singapore to B2 from B3, and maintained the stable outlook. In a statement on Wednesday, Moody's said it has assigned a B2 rating to the USD 825 million senior secured term loan facility to be availed by Oravel Stays Singapore Pte. (OYO Singapore). The term loan is fully underwritten by Deutsche Bank.