U.S. lodging company Host Hotels announced a proposed offering of $300 million senior notes due 2021. We are assigning the proposed notes our 'BB+' issue-level rating with a recovery rating of '1'. The stable rating outlook reflects our view that Host will sustain credit measures appropriate for the current rating over the intermediate term. NEW YORK (Standard&Poor's) Nov. 14, 2011--Standard&Poor's Ratings Services said today that it assigned Bethesda, Md.-based Host Hotels&Resorts L.P.'s proposed $300 million senior notes due 2021 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%)
