Fitch revises Oyo parent's outlook to positive, sees potential deleveraging
Fitch Ratings has revised the outlook on Oyo parent Oravel Stays' long-term foreign and local-currency issuer default ratings (IDRs) to 'positive' from 'stable', reflecting its view that Oyo will deleverage driven by EBITDA growth.
The parent entity of the hospitality major has been re-named to Prism from 'Oravel Stays'.
Fitch has also affirmed the rating on the $830 million senior secured term loan issued by its-fully owned subsidiary, Oravel Stays Singapore Pte Limited, at 'B' with a Recovery Rating of 'RR4'. The issuance is unconditionally and irrevocably guaranteed by Oyo and certain other subsidiaries within the group.
"The outlook revision reflects our view that Oyo will de-leverage, driven by EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) growth and management's commitment to a more conservative capital structure," Fitch Ratings said.
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October 1, 2026