S&P removes Host Hotels from watch

S&P said it affirmed Host Hotels & Resorts Inc.’s ratings and removed them CreditWatch, where the agency placed them with negative implications on March 20.

“We affirmed our BBB- rating on Host because it has strong liquidity to withstand the negative effects of the pandemic on business and group hotel demand and cash flow, and we believe its high-quality hotel portfolio will eventually recover,” S&P said in a press release.

The outlook is negative. The outlook reflects significant risks from the ongoing pandemic and economic recession, and the likelihood of a downgrade if a medical solution is not achieved by mid-2021, S&P said.

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