Marriott Corp. bonds were hit hard yesterday after the company announced plans to divide in two, traders said.

"It's just because [the market] reacted negatively to the news," one trader said. "They think it weakens the credit."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.