S&P rates Ryman notes BB-

S&P said it assigned a BB- rating with a recovery rating of 2 to the proposed $500 million of senior secured notes due 2027 to be offered by Ryman Hospitality Properties Inc.

Proceeds will be used to refinance $350 million of senior notes due 2021 and to repay part of the balance on its revolver.

S&P affirmed Ryman’s B+ rating.

The outlook is negative.

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