Host Hotels&Resorts L.P. Proposed $500 Million Senior Unsecured Notes Rated 'BBB-'; On CreditWatch Negative - S&P Global Ratings’ Credit Research

Host Hotels&Resorts L.P. Proposed $500 Million Senior Unsecured Notes Rated 'BBB-'; On CreditWatch Negative

Host Hotels&Resorts L.P. Proposed $500 Million Senior Unsecured Notes Rated 'BBB-'; On CreditWatch Negative - S&P Global Ratings’ Credit Research
Host Hotels&Resorts L.P. Proposed $500 Million Senior Unsecured Notes Rated 'BBB-'; On CreditWatch Negative
Published Aug 11, 2020
3 pages (1212 words) — Published Aug 11, 2020
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) Aug. 11, 2020--S&P Global Ratings assigned its 'BBB-' issue-level rating to Host Hotels&Resorts L.P.'s proposed $500 million series I senior unsecured notes due 2030. The proposed notes rating, the company's 'BBB-' issuer credit rating, and existing senior unsecured rating are on CreditWatch where we placed them with negative implications on March 20, 2020. Host plans to use the proceeds primarily to tender for its $450 million series C notes due 2023 and for general corporate purposes. We do not believe the notes issuance will materially increase leverage because it is primarily a refinancing transaction. For our latest rating comments please see our bulletin titled "Host Hotels&Resorts Inc. Ratings Remain On CreditWatch

  
Brief Excerpt:

...- General Criteria: Group Rating Methodology, July 1, 2019 - Criteria | Corporates | General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 - Criteria | Corporates | General: Reflecting Subordination Risk In Corporate Issue Ratings, March 28, 2018 - Criteria | Corporates | General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 - Criteria | Corporates | Industrials: Key Credit Factors For The Leisure And Sports Industry, March 5, 2014 - General Criteria: Country Risk Assessment Methodology And Assumptions, Nov. 19, 2013 - Criteria | Corporates | General: Corporate Methodology, Nov. 19, 2013 - General Criteria: Methodology: Industry Risk, Nov. 19, 2013 - General Criteria: Methodology: Management And Governance Credit Factors For Corporate Entities, Nov. 13, 2012 - General Criteria: Use Of CreditWatch And Outlooks, Sept. 14, 2009...

  
Report Type:

Ratings Action

Issuer
Host Hotels&Resorts L.P.
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Host Hotels&Resorts L.P. Proposed $500 Million Senior Unsecured Notes Rated 'BBB-'; On CreditWatch Negative" Aug 11, 2020. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Host-Hotels-Resorts-L-P-Proposed-500-Million-Senior-Unsecured-Notes-Rated-BBB-On-CreditWatch-Negative-2493801>
  
APA:
S&P Global Ratings’ Credit Research. (). Host Hotels&Resorts L.P. Proposed $500 Million Senior Unsecured Notes Rated 'BBB-'; On CreditWatch Negative Aug 11, 2020. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Host-Hotels-Resorts-L-P-Proposed-500-Million-Senior-Unsecured-Notes-Rated-BBB-On-CreditWatch-Negative-2493801>
  
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