Corporate
Outlook: Stable
Action date: 04/08/2021
Rating action: Downgrade

TYCHE GESTION CORPORATION BV

Axesor Rating is downgrading Tyche s corporate rating to B (previously B+/Under observation outlook). Tyche operates as a hotel group that includes four five-star resorts, three of which are located in Punta Cana (Dominican Republic) and one in Cancún (Mexico). The establishments are oriented towards luxury all-inclusive tourism, which operate through the Majestic brand. In 2020 (Non-Audited), the group reached a consolidated turnover of € 38.7MM and an EBITDA of -€ 9.3MM, with a NFD/EBITDA ratio of -28.9x.

Rating

Solicited
Date last rating: 04/08/2021
Date first rating: 05/10/2018