Some improvement at Hilton

The perceived risk of owning Hilton bonds has fallen by more than a third since June 22, according to data compiled by Credit Suisse Group. As Bloomberg News reports, investors are becoming more bullish on Beverly Hills-based Hilton after U.S. room prices rose an average 6.8 percent through the first seven months of 2006. Still, it's a tough climb back to respectability in the bond community. Peggy Holloway, a Moody's analyst, said the company is "not likely to go back to investment grade until they consummate significant asset sales and then use the proceeds to repay debt."