...NEW YORK (Standard & Poor's) March 18, 2016--Standard & Poor's Ratings Services said today that its ratings and outlook on Marriott International Inc. (###/Stable/A-2) are not affected by Starwood Hotels & Resorts Worldwide Inc.' s announcement that it has received an alternate buyout proposal that its board of directors has deemed superior to its existing merger agreement with Marriott. Starwood has notified Marriott that it intends to terminate its existing merger agreement if it doesn't receive a superior counteroffer from Marriott. Marriott has the right to submit a revised offer to Starwood through March 28. Our rating and outlook on Marriott incorporate our expectation that the company will continue to make financial policy decisions to complete investments and shareholder returns, including its decision to finance the proposed acquisition of Starwood primarily through a stock-for-stock transaction, that maintains lease-adjusted debt to EBITDA in the 3x-3.25x range and funds from...
