FelCor Lodging L.P. Proposed $500M Senior Secured Notes Rated 'B-' (Recovery Rating: 3); Outlook Stable Dec 12
- Language: English
- Published: December 2012
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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
FelCor Lodging Trust Inc.,FelCor Lodging L.P.