TEXT-S&P: Choice Hotels International rating cut to 'BB+'
Posted on June 20, 2012 at 10:56 AM EDT
June 20 - Overview -- U.S.-based Choice Hotels International Inc. plans to pay a $600 million special dividend financed with a proposed $400 million notes issue and a senior secured credit facility. -- We are lowering our corporate credit rating on the company to 'BB+' from 'BBB' and assigning our 'BB' issue-level rating to the proposed senior notes. -- We are also lowering our issue-level rating on the company's existing senior notes to 'BB+' and placing that rating on Cred
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