On Nov. 10, 2005, Standard&Poor's Ratings Services assigned its 'A-2' rating to the €1 billion euro-commercial paper program issued by Marriott International Treasury S.C.A. and Marriott Netherlands Group Companies N.V. These entities are wholly owned subsidiaries of Marriott International Inc. (Marriott) who will provide its unconditional and irrevocable guarantee. Marriott's existing $2 billion revolving credit facility will serve as back-up for the program. Concurrently, Standard&Poor's affirmed Marriott's other ratings, including its 'BBB+' long-term and 'A-2' short-term corporate credit ratings (see list below). The outlook is stable. About $1.8 billion of total debt was outstanding as of Marriott's third quarter ended Sept. 9, 2005. The ratings on Bethesda, Md.-based Marriott reflect its strong business profile as exhibited
