NEW YORK (S&P Global Ratings) Nov. 13, 2018--S&P Global Ratings today assigned its 'BBB' issue-level rating (the same level as our long-term issuer credit rating) to Bethesda, Md.-based diversified lodging company Marriott International Inc.'s proposed senior unsecured notes, which it will offer in three tranches (one with a floating-rate coupon and two fixed). Marriott plans to use the proceeds from the proposed notes for general corporate purposes, which may include repaying outstanding commercial paper or other borrowings, repurchasing stock, or funding working capital, capital expenditures, or acquisitions. All of our other ratings on Marriott remain unchanged. For the complete issuer credit rating rationale, please see our most recent research update on Marriott, published Sept. 13, 2018, on RatingsDirect. RELATED CRITERIA
