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S&P changes InterContinental's financial risk profile

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S&P changes InterContinental's financial risk profile

S&P Global Ratings said that it expects 'scredit metrics to weaken in 2016 due to its divestments in and Paris.

Consequent to the disposals, S&P changed its assessmentof InterContinental's financial risk profile to significant from intermediate.

It also took out the one-notch negative modifier forfinancial policy due to the company's substantial completion of the divestmentand an expected "moderately sized" future shareholder returns.

In addition, the rating agency affirmed the company's BBBlong-term corporate credit ratingwith a stable outlook.

The outlook reflects S&P's belief that InterContinentalwill record low single-digit RevPAR growth, while profit margins in 2016 and2017 will "moderately" increase, thanks to its "strong"brands and an expanding pipeline of new hotels.

S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.