- Language: English
- Published: July 2012
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
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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.