...- As we announced on March 20, 2020, we placed our ratings on Hyatt Hotels Corp. on CreditWatch with negative implications, including the '###' issuer credit rating. ("Various Ratings Actions Taken On 34 Companies In The Lodging And Leisure Sector," March 20, 2020.) - The lodging and leisure sector is currently facing an unprecedented decline in revenue and will continue to do so for as long as there are bans and restrictions on travel and consumer activity related to the coronavirus pandemic. - In addition, we believe an economic recession is likely in the U.S. and Europe this year, and leisure and business travel spending could be much lower than our assumptions in our previous base case forecast, even in a virus containment and recovery scenario. - We could lower the rating over the next few weeks if we believe containment may not occur by the end of the second quarter in the U.S. and Europe, such that travel and hotel demand can begin to recover....
