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Fitch: Host Hotels unchanged
Fitch Ratings said it confirms that the credit ratings of Host Hotels & Resorts, Inc. and Host Hotels & Resorts, LP are unaffected following Host's first quarter-2009 results that included reduced demand expectations for 2009.
Host is now assuming an 18%-20% decline in comparable hotel revenue per available room in 2009, the agency added.
The outlook remains negative.
Fitch said it downgraded Host's issuer default rating to BB- from BB+ on Feb. 23 due to Fitch's view that the deterioration in lodging demand trends accelerated since it originally revised Host's outlook to negative on Dec. 5.
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