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Research Update: FelCor Lodging Trust Inc.

  • ID: 1751563
  • August 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 Aug. 18, 2004, Standard & Poor's Ratings Services assigned its 'CCC' rating to FelCor Lodging Trust Inc.'s planned $50 million add-on to the $107 million series A cumulative convertible preferred stock. These securities will be a draw down from the company's shelf registration. Proceeds will be used by FelCor Lodging L.P. (sole general partner and owner of more than 95% of its partnership interest is FelCor Lodging Trust) to redeem a portion of its 9.5% senior notes due 2008. At the same time, Standard & Poor's affirmed its ratings on FelCor Lodging Trust and FelCor Lodging L.P. (jointly FelCor), including its 'B' corporate credit ratings. The outlook is stable. Approximately $1.9 billion in debt was outstanding on June 30,...

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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