Fitch Withdraws Ratings of La Quinta.CHICAGO -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has affirmed and withdrawn the following debt ratings of La Quinta A division of Seagate that was originally an acquisition and then absorbed into the company by 1999. Quinta was the developer of Optically Assisted Winchester (OAW) technology. See OAW. Corp.: --Issuer default rating 'BB-'; --Senior secured credit facility 'BB'; --Senior unsecured rating 'BB-'; --Preferred stock rating 'B'. The ratings have been removed from Rating Watch Negative. These actions are due to the recent announcement that La Quinta Corp. and La Quinta Properties had completed their mergers with affiliates of The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, . Additionally, La Quinta Properties received the requisite tenders and consents from holders of more than a majority in aggregate principal amount of each of its outstanding notes in connection with its tender offers and consent solicitations for the notes. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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