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Stock Market & Financial Investment News

News Breaks
February 28, 2013
16:34 EDTHSTFitch upgrades Host Hotels IDR to 'BB+' from 'BB', outlook stable
Fitch Ratings has upgraded the credit ratings of Host Hotels & Resorts and its operating partnership, Host Hotels & Resorts Limited Partnership as follows: Host Hotels & Resorts: Issuer Default Rating to 'BB+' from 'BB'. Host Hotels & Resorts, L.P.: IDR to 'BB+' from 'BB'; Unsecured revolving credit facility to 'BB+' from 'BB'; Senior unsecured notes to 'BB+' from 'BB'; Senior unsecured exchangeable notes to 'BB+' from 'BB'. The Rating Outlook is Stable. The upgrade reflects Fitch's view that Host's credit metrics will remain appropriate for the 'BB+' rating through the lodging cycle. The upgrade reflects Host's high-quality portfolio of geographically diversified upper tier hotel properties, its large and liquid unencumbered asset pool and the company's progress and commitment to sustaining lower leverage.
News For HST From The Last 14 Days
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October 16, 2014
10:01 EDTHSTOn The Fly: Analyst Upgrade Summary
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06:35 EDTHSTHost Hotels upgraded to Outperform from Market Perform at FBR Capital
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October 15, 2014
10:02 EDTHSTOn The Fly: Analyst Upgrade Summary
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05:38 EDTHSTHost Hotels upgraded to Overweight from Equal Weight at Barclays
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October 14, 2014
08:31 EDTHSTHost Hotels announces favorable decision in Texas Supreme Court
Host Hotels announced that on October 3, 2014 the company's litigation related to the San Antonio Marriott Rivercenter hotel ended in favor of the Company as the Texas Supreme Court denied the motion for rehearing from Keystone-Texas Holding Corp. On June 13, 2014, the Texas Supreme Court had overruled a lower court's $57.3M verdict against the Company for allegedly interfering with an effort to sell a San Antonio shopping mall and adjacent land underlying the San Antonio Marriott Rivercenter hotel. Now that the decision by the Texas Supreme Court is final, the company will reverse the $69M loss contingency previously recorded under GAAP. In addition, a court-ordered bond will be released and the Company will recoup its previously funded $25M escrow.
October 6, 2014
08:32 EDTHSTHost Hotels announces acquisition of b2 Miami hotel, sale of Tampa hotel
Host Hotels acquired the 242-room fee-simple b2 miami downtown hotel for $57.5M. The company also entered into a management agreement with Destination Hotels & Resorts to reposition and relaunch the hotel under a new independent identity in late 2014. The company's joint venture in Europe, in which the Company holds a 33.4% interest, acquired a 90% ownership interest in the entity that owns the 394-room fee-simple Grand Hotel Esplanade in Berlin. The hotel was acquired for a gross purchase price of EUR 81M, and is subject to approximately EUR 48.7M of debt with a margin of 219 basis points over Euribor which is non-recourse to the joint venture and the company. The company sold the 719-room Tampa Marriott Waterside Hotel & Marina for $199M.

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