Fitch changes Ryman Hospitality view

Fitch Ratings said it affirmed the issuer default ratings of Ryman Hospitality Properties, Inc. and its operating partnership, RHP Hotel Properties, LP, at BB-.

The outlook was changed to positive from stable.

Fitch also affirmed the company’s senior secured at BB+/RR1 and senior unsecured at BB-/RR4.

The agency said the positive outlook reflects expectations that REIT leverage will remain below 4.5x, which Fitch believes is consistent with a BB rating given both the REIT and lodging attributes of Ryman.

It also reflects the improvement in Ryman's operating and financial profile over the last couple of years, the agency said.

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