...NEW YORK (S&P Global Ratings) May 28, 2020--S&P Global Ratings today assigned its '###-' issue-level rating (the same as our long-term issuer credit rating) to Bethesda, Md.-based diversified lodging company Marriott International Inc.' s proposed series FF senior unsecured notes. The debt rating is on CreditWatch with negative implications. We placed our ratings on Marriott on CreditWatch on April 2, 2020. Marriott plans to use the proceeds from the proposed notes for general corporate purposes and repayment of outstanding indebtedness, which may include near-term bond maturities or amounts drawn under the company's credit facility. All of our other ratings on Marriott are unchanged. We believe that Marriott will use notes proceeds to bolster its liquidity position given the significant fallout from the coronavirus pandemic. We have assumed the company will experience material negative cash flow while hotels are closed or running at very low occupancy, but it will have adequate liquidity...
