Hyatt Hotels Corp. Proposed Notes Rated 'BBB-'; Rating Placed On CreditWatch Negative Pending ALG Acquisition - S&P Global Ratings’ Credit Research

Hyatt Hotels Corp. Proposed Notes Rated 'BBB-'; Rating Placed On CreditWatch Negative Pending ALG Acquisition

Hyatt Hotels Corp. Proposed Notes Rated 'BBB-'; Rating Placed On CreditWatch Negative Pending ALG Acquisition - S&P Global Ratings’ Credit Research
Hyatt Hotels Corp. Proposed Notes Rated 'BBB-'; Rating Placed On CreditWatch Negative Pending ALG Acquisition
Published Sep 27, 2021
3 pages (1494 words) — Published Sep 27, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Sept. 27, 2021--S&P Global Ratings today assigned its 'BBB-' issue-level rating to Hyatt Hotels Corp.'s proposed notes due in 2023 and 2024 and placed it on CreditWatch with negative implications pending completion of the company's acquisition of Apple Leisure Group (ALG). Our 'BBB-' issuer credit rating is also on CreditWatch negative. Once the ALG acquisition is completed, we will lower the issuer and debt ratings to 'BB+'. Hyatt is conducting a series of transactions to finance the ALG acquisition. The company has priced a common equity issuance expected to raise net proceeds of about $575 million, including the exercise of an overallotment option by the underwriters. While the amounts of proposed notes and potential future

  
Report Type:

Ratings Action

Ticker
H
Issuer
Hyatt Hotels Corp.
GICS
Hotels , Resorts & Cruise Lines (25301020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Hyatt Hotels Corp. Proposed Notes Rated 'BBB-'; Rating Placed On CreditWatch Negative Pending ALG Acquisition" Sep 27, 2021. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Hyatt-Hotels-Corp-Proposed-Notes-Rated-BBB-Rating-Placed-On-CreditWatch-Negative-Pending-ALG-Acquisition-2727763>
  
APA:
S&P Global Ratings’ Credit Research. (). Hyatt Hotels Corp. Proposed Notes Rated 'BBB-'; Rating Placed On CreditWatch Negative Pending ALG Acquisition Sep 27, 2021. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Hyatt-Hotels-Corp-Proposed-Notes-Rated-BBB-Rating-Placed-On-CreditWatch-Negative-Pending-ALG-Acquisition-2727763>
  
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