Fitch Affirms Host Hotel Stable Ratings

NEW YORK CITY—Fitch Ratings has affirmed the Issuer Default Ratings (IDR) for Host Hotel & Resorts Inc. and its operating partnership, Host Hotels & Resorts Limited Partnership (Host) at ‘BBB-’. The rating outlook is Stable.

The ratings reflect Fitch’s expectation that Host will sustain leverage at or below its stated 2.5x to 3.0x leverage target and that the company’s credit metrics will remain appropriate for the ‘BBB-’ IDR through the lodging cycle. The ratings also consider Host’s high-quality portfolio of geographically diversified upper-tier hotel properties, as well as its large and liquid unencumbered asset pool. Fitch views the latter as an important source of contingent liquidity that supports the rating.