We anticipate that U.K.-based hotelier InterContinental Hotels Group PLC's (IHG) credit metrics will weaken in 2016, albeit from strong levels in 2015, as a result of a $1.5 billion special dividend funded from asset disposals. We are affirming our 'BBB' corporate credit rating on IHG. The stable outlook reflects our view that IHG will report RevPAR (revenue per available room) growth in the low single-digits, and rising profit margins in 2016 and 2017. IHG's strong brands and the growing pipeline of new hotels will support this, in our view. On July 25, 2016, S&P Global Ratings affirmed its 'BBB' long-term corporate credit rating on U.K.-based hotelier InterContinental Hotels Group PLC (IHG). The outlook remains stable. We anticipate that IHG's credit
