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S&P boosts MeriStar Hospitality
Standard & Poor's said it raised its corporate credit rating on MeriStar Hospitality Corp. to B from B- as well as the company's senior unsecured rating to B- from CCC+ and subordinated debt rating to CCC+ from CCC.
The outlook is stable.
MeriStar Hospitality Operating Partnership, LP's corporate credit rating was also raised to B from B- and its senior unsecured rating to B- from CCC+, the agency noted.
S&P said the ratings on MeriStar reflect the company's weak credit measures, and therefore its vulnerability to a drop in lodging demand, adding these factors are partially tempered by its expected adequate liquidity position for 2006 and a favorable trend in industry performance.
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