Moody’s rates Hilton notes Ba2

Moody's Investors Service said it confirmed Hilton Worldwide Finance, LLC's ratings, including its Ba1 corporate family rating, Ba1-PD probability of default rating, Baa3 senior secured rating, and Ba2 senior unsecured rating.

The company's speculative grade liquidity rating of SGL-1 is unchanged.

At the same time, Moody's assigned a Ba2 rating to the planned $500 million senior unsecured notes of Hilton Domestic Operating Co. Inc.

The outlook on Hilton Worldwide Finance is negative.

This concludes the review for downgrade that was initiated on March 23.

“The confirmation reflects Hilton's improved liquidity position as the company faces material earnings decline and pressure on its free cash flow in 2020 due to global travel restrictions related to the spread of the coronavirus (Covid-19),” Pete Trombetta, Moody's lodging and cruise analyst, said in a news release.

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