Moody's: Hyatt unaffected

Moody's Investors Service said that Hyatt Hotels Corp.'s current Baa2 ratings and stable outlook are unaffected by its announcement that the board of directors authorized a repurchase of common stock up to $200 million.

This announcement signals a shift in financial policy toward returns to shareholders and follows Hyatt's May announcement that it was realigning its corporate and regional operations in a manner that will facilitate a step up in its growth plans and a willingness to use its balance sheet to support this effort, Moody's said.

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