Fitch: Host Hotels notes BB

Fitch Ratings said it assigned a BB rating to the $300 million aggregate principal amount 6% private-placement senior notes due 2021 priced by Host Hotels & Resorts, LP, the sole general partner of Host Hotels & Resorts, Inc.

Host Hotels & Resorts, Inc. has an issuer default rating of BB.

Host Hotels & Resorts, LP has an issuer default rating of BB, bank credit facility rating of BB, senior notes rating of BB and exchangeable senior debentures rating of BB.

The outlook is stable.

The proceeds of the offering, along with available cash and borrowings under a credit facility, will be used to repurchase or repay $421 million face amount of outstanding 2.625% exchangeable senior debentures due 2027, Fitch said.

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