Fitch ups Marriott

Fitch Ratings said it upgraded Marriott International Inc.'s issuer default rating, $2.4 billion senior credit facility and $1.6 billion of senior notes to BBB from BBB- as well as the short-term issuer default and commercial paper ratings to F2 from F3.

The outlook is stable.

The upgrade reflects the strong recovery in lodging demand trends, management's continued efforts to support its balance sheet, the repositioning of its timeshare business, the company's commitment and financial flexibility to maintain credit metrics, and its strong cash flow generation and liquidity profile, Fitch said.

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