Host Hotels&Resorts L.P.'s $500 Million Delayed-Draw Term Loan Is Rated 'BBB' (Recovery Rating: 1) - S&P Global Ratings’ Credit Research

Host Hotels&Resorts L.P.'s $500 Million Delayed-Draw Term Loan Is Rated 'BBB' (Recovery Rating: 1)

Host Hotels&Resorts L.P.'s $500 Million Delayed-Draw Term Loan Is Rated 'BBB' (Recovery Rating: 1) - S&P Global Ratings’ Credit Research
Host Hotels&Resorts L.P.'s $500 Million Delayed-Draw Term Loan Is Rated 'BBB' (Recovery Rating: 1)
Published Sep 14, 2015
Published Sep 14, 2015
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (Standard&Poor's) Sept. 14, 2015--Standard&Poor's Ratings Services today assigned its 'BBB' issue-level rating and '1' recovery rating to Bethesda, Md.-based Host Hotels&Resorts L.P.'s $500 million delayed-draw term loan commitment maturing September 2020. The '1' recovery rating indicates our expectation for very high (90% to 100%) recovery for lenders in the event of a payment default. The company is exercising the accordion feature under its 2014 senior credit facility and will periodically draw under the delayed draw commitment and use proceeds for general corporate purposes, including debt repayment and possible acquisitions. Host's credit facility and existing notes and debenture indentures have released their former subsidiary guarantees and stock pledges. Effectively, the credit facility is

  
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.'s $500 Million Delayed-Draw Term Loan Is Rated 'BBB' (Recovery Rating: 1)" Sep 14, 2015. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Host-Hotels-Resorts-L-P-s-500-Million-Delayed-Draw-Term-Loan-Is-Rated-BBB-Recovery-Rating-1-1450432>
  
APA:
S&P Global Ratings’ Credit Research. (). Host Hotels&Resorts L.P.'s $500 Million Delayed-Draw Term Loan Is Rated 'BBB' (Recovery Rating: 1) Sep 14, 2015. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Host-Hotels-Resorts-L-P-s-500-Million-Delayed-Draw-Term-Loan-Is-Rated-BBB-Recovery-Rating-1-1450432>
  
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