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Sunstone Hotel Investors Improves Financial Flexibility And Enhances Balance Sheet Strength
Successfully Extends Covenant Waiver Period
Reaches Resolution with Special Servicer on Hilton Times Square
Addresses All Near-Term Maturities
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IRVINE, Calif., Dec. 23, 2020 /PRNewswire/ Sunstone Hotel Investors, Inc. (the Company or Sunstone ) (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, announced today that it has completed a series of balance sheet enhancing transactions that include: extending the waiver period of the financial covenant tests on the Company s $500 million undrawn revolving credit facility, $185 million of funded term loan facilities and $205 million of outstanding private placement senior notes ( Unsecured Debt Facilities ); addressing its remaining near-term maturities; providing resolution with the special servicer on the mortgage loan secured by the Hilton Times Square; and, redu