S&P may cut Extended Stay America ratings
2004-03-09
Standard & Poor's on Monday said it may cut its ratings on Extended Stay America, Inc. after the hotelier said on Friday it had agreed to be acquired by private equity firm the Blackstone Group for more than $1.9 billion.
But the company's bonds still rose on Monday, on the expectations that they will be bought back at a premium to their current value.
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More Extended Stay America News
- Operations To Stay on Course During Extended Stay Inc.'s Debt Restructuring
- Extended Stay America, Inc. Stockholders Approve Merger Agreement
- Blackstone Group Makes Big Bet On Long-Term Lodging – Herald Tribune
- N.Y. Investment Firm to Buy Hotel Chain
- Extended Stay America, Inc. Opens New Hotel in Fishkill, New York
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