S&P loweres Lightstone

S&P said it lowered its rating on Lightstone Holdco LLC’s senior secured debt to B+ from BB- and revised the recovery rating to 3 from 2.

“We expect Lightstone HoldCo LLC's cash flows to be lower in future periods, which will reduce its debt service coverage ratios (DSCRs) and increase its debt balance at the time of its refinancing,” said S&P in a press release.

The outlook is stable.

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