S&P gives Hilton amended loan BBB

S&P said it assigned its BBB issue-level rating (two notches above the BB+ corporate credit rating) and 1 recovery rating to Hilton Worldwide Finance LLC's proposed amended $3,225,000,000 term loan B-2 due 2023.

The 1 recovery rating reflects an expectation for very high (90-100%) recovery for lenders in the event of payment default.

Hilton plans to amend its existing credit agreement to extend the maturity of $3,225,000,000 in principal of its existing term loan B to 2023 from 2020. The remaining outstanding $1 billion under the existing facility will mature 2020.

The issue-level and recovery ratings on the existing term loan facility maturing in 2020 are unchanged at BBB and 1, respectively.

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