Fitch trims Host Hotels

Fitch Ratings said it downgraded the long-term ratings for Host Hotels & Resorts, Inc. to BBB- from BBB.

“The downgrade reflects Fitch's expectation for Host's adjusted net debt to EBITDA to increase well above our 3x negative rating sensitivity in the near term given the severe, unprecedented impact of the coronavirus pandemic on the travel and hospitality sectors, as well as uncertainty around the timing of bringing the ratio back to the company's targeted 2.5x-3x range,” said Fitch in a press release.

The outlook is stable.

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