Moody's: Starwood notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Starwood Hotels & Resorts Worldwide Inc.'s $350 million senior unsecured notes due 2023.

In addition, the agency said it assigned ratings to Starwood's new shelf registration for well-known seasoned issuers.

Starwood's existing senior unsecured debt ratings were affirmed. The outlook is stable.

The agency said Starwood's Baa2 senior unsecured ratings reflect its well-defined branding strategy and Moody's expectation that the company will continue to generate positive free cash flow and maintain a significant amount of availability under its $1.75 billion revolver.

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