S&P lowers Ryman Hospitality

S&P said it downgraded Ryman Hospitality Properties Inc. to B from B+, its senior secured debt to BB- from BB and the rating on its senior unsecured debt to B+ from BB-.

“We expect the company's leverage to spike in 2020 because it will generate near zero revenue while its properties remain closed. If the spread of the coronavirus is contained by midyear, Ryman will likely reopen its properties, though lingering apprehensions related to travel and a recession could hamper its recovery,” S&P said in a press release.

The outlook is negative.

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