NEW YORK (Standard&Poor's) May 19, 2011--Standard&Poor's Ratings Services said today that it assigned Bethesda, Md.-based Host Hotels&Resorts L.P.'s proposed $50 million add-on senior notes due 2019 its 'BB+' issue-level rating (two notches higher than our 'BB-' corporate credit rating on the company). We also assigned this debt a recovery rating of '1', indicating our expectation of very high (90% to 100%) recovery for lenders in the event of a payment default. The notes are being offered as additional notes under an existing indenture under which Host issued $425 million in notes due 2019 on May 11, 2011. The company will use proceeds from the proposed notes issuance for general corporate purposes. All existing ratings
