Sunday, March 2, 2008

S&P: American Casino & Entertainment Properties LLC Ratings Withdrawn Following Notes Redemption

(Stratosphere Casino, Las Vegas, top right photo)

NEW YORK-- Standard & Poor's Ratings Services has withdrawn its ratings on Las Vegas-based American Casino & Entertainment Properties LLC (ACEP), including the 'B+' corporate credit rating. The withdrawal follows the redemption of the company's outstanding $215 million senior secured notes in conjunction with the close of th
e sale of ACEP to W2007/ACEP Holdings LLC, an affiliate of Whitehall Street Real Estate Funds.

Ratings List
To From
American Casino & Entertainment Properties LLC
Corporate Credit Rating NR B+/Watch Neg/--
Senior Secured Notes NR B+/Watch Neg

Media Contact:
Edward Sweeney, New York (1) 212-438-6634

Analyst Contacts:
Melissa Long, New York (1) 212-438-3886
Craig Parmelee, CFA, New York (1) 212-438-7850

S&P: Host Hotels & Resorts ‘BB’ Rating Outlook Revised To Stable From Positive

(Boston Marriott Copley Place photo top left)

NEW YORK--Standard & Poor’s Ratings Services today revised its rating outlook for Host Hotels & Resorts Inc. to stable from positive. Ratings on the company, including the ‘BB’ corporate credit rating, were affirmed.

”The outlook revision reflects that we are unlikely to raise the rating for Host over the near term due to the possibility that its credit metrics, which as of December 2007 were good for the current rating, will decline to levels more appropriate for the ‘BB’ rating,” said Standard & Poor’s credit analyst Emile Courtney. “In 2008, we expect slower growth in the U.S. hotel industry and in Host’s portfolio, following years of rapid growth.”

Also, the company just announced a $500 million share repurchase authorization, and that it expects to declare another special dividend in the December 2008 quarter. This follows Host’s declaration of a special dividend in December 2007 that totaled approximately $100 million, and is in addition to the company’s regular dividend, which is currently declared at a rate in excess of free cash flow.

Media Contact:
Edward Sweeney,
New York
(1) 212-438-6634

Analyst Contact:
Emile Courtney, CFA,
New York
(1) 212-438-7824

Investment. Construction.Development in Russia and CIS – Dealmakers Forum

MOSCOW (OPENPRESS)--The First International Forum “Investment, Construction and Real Estate in Russian Federation and CIS countries – Dealmakers Forum” is a part of the 13th Annual International Real Estate Exhibition, Realtex, which is endorsed by Mayor Yuri Luzhkov of Moscow. The event will be held on April 23 – 24, 2008 in the Central Exhibition Complex “Expocentre”, Moscow.(photo top right)

RPI Inc., founded in 1992, is coordinating the event. RPI is a leading advisory, business development and communications firm specializing in the energy industry of Russia, the Caspian region, Eastern and Central Europe.

The Forum will be a unique event that presents the largest available showcases of development projects from CIS countries and Russia. The CIS real estate market has been exhibiting rapid growth. Experts forecast that this market will grow by 20 percent in 2008, whereas growth in Central and Eastern Europe will not exceed 16 percent. Record growth is therefore anticipated in all segments of the region’s real estate market.

The Forum will explore the following real estate markets: Russia, Ukraine, Kazakhstan, Belarus, Uzbekistan, Tatarstan, Azerbaijan. Russia/CIS has become one of the hottest destinations for real estate development. These countries continue to attract foreign investors in record numbers and the forecast is that the market will grow rapidly in the next few years.

For additional information, please contact:
RPI at:
+7 (495) 778-4597
Web site:


Exhibition Director
Kiseleva Ekaterina

Tel.:+7 495 105-6561/62
Fax: +7 (495) 248-0734

Exhibition Manager
Ermakova Olga
Tel.:+7 495 105-6561/62
Fax: +7 (495) 248-0734