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Accor: agrees new RCF credit facility

( - Accor announces an agreement with five banks for a new 560 million euro 12-month revolving credit facility (RCF) with two six-month renewal options and no covenants or restrictions.

This is addeed to the 1.2 billion euro credit facility signed in July 2018 and further strengthens Accor's liquidity, which now exceeds four billion euros, i.e. over 40 months' liquidity in current conditions.

While the operating environment remains very challenging, the hotel group says it is seeing the first signs of an improvement in business. It has reopened 250 hotels since the end of April and at present, 42% of its hotels are operational.

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