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Research Update: FelCor Lodging Trust Inc. Product Image

Research Update: FelCor Lodging Trust Inc.

  • ID: 1751530
  • May 2004
  • Standard & Poors

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

Abstract
On May 11, 2004, Standard & Poor's Ratings Services assigned its 'B-' senior unsecured debt ratings to FelCor Lodging L.P.'s proposed $350 million senior notes due 2011. The securities will be guaranteed by FelCor Lodging Trust Inc and FelCor Lodging L.P.'s domestic subsidiaries, and will be privately placed under Rule 144A. FelCor Lodging L.P. is a limited partnership, whose sole general partner and 95% owner is FelCor Lodging Trust Inc. Combined with a portion of the cash on hand and a $200 million draw down from FelCor Lodging Trust's secured debt facility, proceeds will be used to redeem the $175 million 7.375% senior notes due 2004 and to tender for $475 million of the $573 million currently outstanding 9.5% senior...

Companies mentioned in this report are: FelCor Lodging Trust Inc.,FelCor Lodging L.P.
Action: New Rating

Note: Product cover images may vary from those shown

FelCor Lodging Trust Inc.,FelCor Lodging L.P.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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