Marriott International Inc.'s Proposed Series KK Senior Notes Assigned 'BBB' Rating

NEW YORK (S&P Global Ratings) March 23, 2023--S&P Global Ratings today assigned its 'BBB' issue-level rating (the same as our long-term issuer credit rating) to Marriott International Inc.'s proposed series KK senior unsecured notes. The maturity and issuance amount are to be determined. Marriot intends to use the proceeds for general corporate purposes, which could include the repayment of commercial paper or debt with near-term maturities in December 2023 and April 2024. We continue to assume Marriott's S&P Global Ratings-adjusted net debt to EBITDA will be in the 3.0x-3.5x range through 2023, reflecting sustained leisure demand, strong average daily rate, and a continued recovery in business transient and group bookings, as well as a recovery in Marriott's international rooms base

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