S&P: Wyndham outlook stable

Standard & Poor's said it revised the outlook on Wyndham Worldwide Corp. to stable from negative and affirmed its BBB- corporate credit rating.

"The outlook revision to stable reflects our increasing confidence that leisure spending in Wyndham's businesses is stabilizing," S&P analyst Emile Courtney said in a statement.

The BBB- rating reflects Wyndham's significant and some leading market positions in each of its business units, as well as the relatively stable revenue and cash flow characteristics over the cycle, according to the agency.

S&P said it expects the company to maintain adjusted leverage at around 3.5x or less over the economic cycle.

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