Host Hotels&Resorts L.P.'s Senior Unsecured Notes Rated 'BBB-'

NEW YORK (S&P Global Ratings) Aug. 7, 2024-- S&P Global Ratings today assigned its 'BBB-' issue-level rating (the same as the long-term issuer credit rating) to Host Hotels&Resorts L.P.'s proposed series L senior unsecured notes. Host intends to use the net proceeds to repay outstanding borrowings; $525 million under its revolving credit facility, which it borrowed in connection with the recent acquisitions of Turtle Bay Resort and 1 Hotel Central Park; and for general corporate purposes. In July, Host closed on its previously announced $680 million acquisition of the 450-room Turtle Bay Resort (rebranded as The Ritz-Carlton O'ahu), including a 49-acre land parcel intended for development and acquired the 234-room 1 Hotel Central Park for a total purchase

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