Following DBRS Morningstar’s action that placed the United States of America’s Long-Term Foreign and Local Currency – Issuer Ratings of AAA Under Review with Negative Implications (see DBRS Morningstar Places United States Ratings Under Review With Negative Implications), we provide the following additional commentary on certain segments of U.S. structured finance that could be affected by a change to the rating of the United States of America. DBRS Morningstar will refine its analysis, as appli...
The pandemic triggered an unprecedented disruption to the hospitality industry in Austin, Texas, though the city is better positioned for recovery than others. Austin, with its high population growth, attractive business environment, and booming travel demand prepandemic, was among the hardest-hit cities in the beginning. According to STR, occupancy for hotels in Austin’s central business district dropped to a low of 3.1% on April 4, 2020. Room bookings plummeted to 6% on April 11, 2020, down fr...
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