Various Ratings Actions Taken On 34 Companies In The Lodging And Leisure Sector

NEW YORK (S&P Global Ratings) 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 consumer discretionary spending will be slower than our assumptions in our previous base case forecast. S&P Global Ratings acknowledges a high degree of uncertainty about the rate of spread and peak of the coronavirus outbreak. Some government authorities estimate the pandemic will peak in June or August, and we are using this assumption in assessing the economic and

...March 20, 2020 NEW YORK (S&P Global Ratings) 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 consumer discretionary spending will be slower than our assumptions in our previous base case forecast. S&P Global Ratings acknowledges a high degree of uncertainty about the rate of spread and peak of the coronavirus outbreak. Some government authorities estimate the pandemic will peak in June or August, and we are using this assumption in assessing the economic and credit implications. We believe measures to contain COVID-19 have pushed the global economy into recession and could cause a surge of defaults among nonfinancial corporate borrowers (see "COVID-19 Macroeconomic Update: The Global Recession Is Here...

Ratings Action