S&P: Hospitality Properties view negative

Standard & Poor's said it revised the outlook for Hospitality Properties Trust to negative from stable and affirmed the BBB corporate credit rating.

According to S&P, the outlook revision reflects uncertainties regarding prospects and timing for the company to receive repayment of deferred rent in the event of a prolonged period of significantly impaired credit quality at its largest tenant, TravelCenters of America LLC, and the expectation for weakening credit metrics during the rent deferral period.

The rating reflects expectation that the company will be able to maintain adequate credit metrics despite the challenge to its historically conservative lease and management contract structures, the agency said.

The rating also reflects the generally good financial profile of the company's lodging tenants and its conservatively capitalized balance sheet, S&P added.

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