"We are pleased that Moody's has confirmed our investment grade debt ratings and changed its outlook to stable, reflecting Choice's strong cash flow and improved financial performance," says Charles A. Ledsinger, Jr., president and chief executive officer. He said the "monetization" of a receivable note from Sunburst Hospitality Corporation at the end of 2000 strengthened the company's finances.
Choice Hotels International is the world's second-largest hotel franchisor, with 4,390 hotels in operation and another 684 hotels under development in 43 countries, under the brand names of Comfort, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn and MainStay Suites.
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