Hilton Debt Downgraded: Standard & Poor’s Corp....
From Times Staff and Wire Reports
Hilton Debt Downgraded: Standard & Poor’s Corp. announced that it has lowered its ratings of Hilton Hotels Corp.’s senior debt and commercial paper because the chain faces industrywide problems from a recession and increased casino competition. On the other hand, the credit-rating agency also said it has removed about $275 million worth of Hilton’s long-term securities from CreditWatch.
