S&P assigns Hospitality Properties Trust notes BBB

Standard & Poor's said it assigned its BBB rating to Hospitality Properties Trust's proposed $350 million senior unsecured notes due 2018.

The agency said that Hospitality Properties Trust expects to use the net proceeds to reduce amounts outstanding under the company's revolving credit facility.

Existing ratings on Hospitality Properties Trust, including the BBB corporate credit rating, were affirmed, S&P noted.

The outlook is stable.

S&P added that the BBB corporate credit rating reflects the conservative terms of the company's lease and management contracts, the generally good financial profiles of its tenants and its historically conservatively capitalized balance sheet.

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