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S&P rates Hyatt Hotels BBB
Standard & Poor's said it assigned a BBB rating to Hyatt Hotels Corp.'s proposed $250 million senior notes due 2016 and proposed $250 million senior notes due 2021.
The proceeds will be used for general corporate purposes.
The proposed issuance follows news that the company is acquiring hotels and hotel management agreements from LodgeWorks LP for $802 million, S&P said.
The agency also said it affirmed Hyatt's BBB corporate credit rating.
The outlook is stable.
The ratings reflect the company's strong liquidity position and the company's satisfactory business risk profile attributable to its high-quality hotel portfolio, well-respected Hyatt brand name and geographic diversification, the agency said.
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