SAN FRANCISCO (S&P Global Ratings) Nov. 2, 2026--S&P Global Ratings today assigned its'BBB-'issue-level rating (the same as our long-term issuer credit rating) to Hyatt Hotels Corp.'s proposed $400 million senior unsecured notes. The company intends to use the proceeds from this offering and cash on hand to repay all of its $600 million 5.750% notes due Jan. 30, 2027. We expect Hyatt’s S&P Global Ratings-adjusted leverage to decline to 3.0x-3.5x in 2027, from approximately 4.0x estimated at year-end 2026. This would provide sufficient cushion relative to our 3.75x downgrade threshold, as headwinds within some of its segments recede. We expect performance within its resort portfolio and distribution segment to improve. This comes as flight capacity into Mexico increases
