Moody’s gives Hyatt notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Hyatt Hotels Corp.'s proposed $400 million 4.375% senior notes due 2028.

The company's existing Baa2 senior unsecured ratings and stable outlook are unchanged.

"Hyatt intends to use the proceeds from this offering for general corporate purposes, which may include the full or partial redemption of its 6.875% senior notes due 2019, repayment of secured debt, share repurchases or acquisitions," Pete Trombetta, Moody's lodging analyst, said in a news release.

"We view the note issuance as credit neutral as it results in a modest increase in leverage but if used to refinance the 2019 notes, would improve the company's maturity schedule."

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