SECTION 1 -

Note 19. Financial debt by Currency and Maturity
Note 19.A Long and short‐term financial debt
New Services: Historical Combined Financial Statements and Notes
December, 31, 2009
Long and short‐term financial debt at December 31, 2009 breaks down as follows by currency and interest rate:
Effective rate Effective rate Effective rate
Dec.
Dec.
Dec.
(in € millions) 2007 2008 2009
2007
2008
2009
% %
%
Long and short-term financial debt (1) 2 8,75 4 4,74 11 5,98
Deposits 4 -
Purchase commitments 43 -
Bank overdrafts and other short-term financial liabilities 137 -
Long and short-term financial debt and other financial liabilities 186 -
(1) Including the equivalent of €8 million in INR at December 31, 2009.
There were no hedges outstanding at December 31, 2009.
(in € millions)
Dec.
2007
5 -
28 -
465 -
502 -
Dec.
2008
6 -
9 -
671 -
697 -
Dec.
2009
Long-term financial debt and other financial liabilities 47 34 15
Short-term debt and other financial liabilities (1) 139 468 682
Total financial debt and other financial liabilities 186 502 697
(1) Short‐term financial debt and other financial liabilities include €631 million in loans from Accor to New Services subsidiaries
(of which €568 million in loans to New Services Belgium), bank overdrafts of €41 million and other short‐term debts of €10
million.
Note 19.B Maturities of financial debt
At December 31, 2009, maturities of financial debt were as follows:
(in € millions)
Dec.
2007
Dec.
2008
Dec.
2009
Year Y + 1 139 468 682
Year Y + 2 18 12 10
Year Y + 3 4 8 -
Year Y + 4 17 8 2
Year Y + 5 -
1 -
Year Y + 6 -
-
-
Beyond 8 5 3
Total financial debt 186 502 697
This analysis of financial debt by maturity over the long‐term is considered as providing the most meaningful liquidity indicator.
Financial debt and short‐term investments denominated in foreign currencies have been translated into euros at the rate on the
balance sheet date.
At December 31, 2009, New Services did not have any lines of credit.
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