Marriott International Inc.'s Senior Unsecured Notes Rated 'BBB'

NEW YORK (S&P Global Ratings) Oct. 1, 2019--S&P Global Ratings today assigned its 'BBB' issue-level rating (the same as our long-term issuer credit rating) to Bethesda, Md.-based diversified lodging company Marriott International Inc.'s proposed senior unsecured notes. Marriott plans to use the proceeds from the proposed notes for general corporate purposes, which may include working capital, capital expenditure, acquisitions, stock repurchases, or the repayment of outstanding debt. All of our other ratings on Marriott remain unchanged. For the complete issuer credit rating rationale, please see our most recent full analysis on Marriott, published June 20, 2019, on RatingsDirect. Criteria Corporates General: Reflecting Subordination Risk In Corporate Issue Ratings, March 28, 2018 General Criteria: Methodology For Linking Long-Term And

...- Criteria | Corporates | General: Reflecting Subordination Risk In Corporate Issue Ratings, March 28, 2018 - General Criteria: Methodology For Linking Long-Term And Short-Term Ratings, April 7, 2017 - Criteria | Corporates | General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 - Criteria | Corporates | Industrials: Key Credit Factors For The Leisure And Sports Industry, March 5, 2014 - General Criteria: Group Rating Methodology, Nov. 19, 2013 - Criteria | Corporates | General: Corporate Methodology: Ratios And Adjustments, Nov. 19, 2013 - Criteria | Corporates | General: Corporate Methodology, Nov. 19, 2013 - General Criteria: Country Risk Assessment Methodology And Assumptions, Nov. 19, 2013 - General Criteria: Methodology: Industry Risk, Nov. 19, 2013 - General Criteria: Methodology: Management And Governance Credit Factors For Corporate Entities, Nov. 13, 2012 - General Criteria: Use Of CreditWatch And Outlooks, Sept. 14, 2009...

Ratings Action