Marriott's CFO says credit-market worries shouldn't affect Starwood deal

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The credit market shouldn't affect Marriott's planned acquisition of Starwood (Wall Street Journal)

Marriott CFO Carl Berquist says his company's $12.2 billion acquisition of Starwood Hotels & Resorts Worldwide won't force the company into the high-yield debt market.

"Similarly, financing the combined companies' cash-flow needs also shouldn't be a problem, given their reliance on franchisees and partners to operate most of their hotels and resorts," The Wall Street Journal reports.

Even considering the Federal Reserve's widely expected interest-rate hike this week, Berquist told The Journal that Marriott "can get money at very attractive rates."

The acquisition will mostly involve stock, with Starwood shareholders also receiving $7.80 per share from the spinoff of its timeshare business.

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