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Moody's affirms Wyndham
Moody's Investors Service said it affirmed Wyndham Worldwide Corp.'s Baa2 senior unsecured rating and stable outlook following the company's announcement that it will acquire U.S. Franchise Systems Inc. and its Microtel Inns & Suites and Hawthorn Suites hotel brands.
The affirmation anticipates that Wyndham will be able to quickly and easily integrate U.S. Franchise's 29,000 room system into its existing network of 551,000 rooms and that debt-to-EBITDA will increase only slightly to 3.1 times from 3.0 times as a result of this relatively small, debt-financed acquisition, the agency added.
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