...LONDON (S&P Global Ratings) Feb. 22, 2018--S&P Global Ratings said today that its ratings on Accor S.A. (###-/Watch Dev/A-3) remain on CreditWatch developing after the company announced a further delay in the sale of the stake in AccorInvest (Booster transaction). The company also released its annual results for 2017. On Feb. 21, 2018, Accor announced a strong set of results for the full-year 2017, with reported revenue growth of 17.7% (+7.9% on a like-for-like [LFL] basis) and EBIT growth of about 24% (+10% LFL), mostly due to full-year consolidation of FRHI Hotels & Resorts Group and favorable trends in the travel industry throughout the year. The company's cash flow was also stronger than in 2016 due to solid organic and inorganic growth and a disciplined cost policy. AccorInvest's revenues were flat year on year, while EBITDA was 2% lower due to substantial renovation works that led to the temporary closure of some large hotels in 2017. At the same time, Accor announced that discussions...
