...November 8, 2021 NEW YORK (S&P Global Ratings) Nov. 8, 2021--S&P Global Ratings today assigned its '###-' issue-level rating and '2' recovery rating to Host Hotels & Resorts L.P.'s proposed $400 million Series J senior unsecured notes due 2031. The company plans to use the proceeds from these notes to repay its $400 million of outstanding Series D notes due 2023. Our '###-' issue-level rating on Host's existing unsecured debt is unchanged and remains one notch above our issuer credit rating on the company because of the substantial asset coverage from its high-quality unencumbered hotel portfolio and the strong customary REIT covenants in its debt agreements that limit additional debt issuance. Our issuer credit rating on Host Hotels & Resorts Inc. (##+/Negative) is also unchanged following its announcement last week that it has used an aggregate of approximately $1.2 billion so far this year to acquire the Alila Ventana Big Sur, Baker's Cay Resort Key Largo, Four Seasons Resort Orlando,...
