Moody's upgrades Wyndham

Moody's Investors Service said it upgraded Wyndham Worldwide's senior unsecured ratings to Baa3 from Ba1.

"The rating upgrade reflects a modest improvement in credit metrics in 2011 and Moody's expectations that revenues, earnings, and normalized free cash flow will increase again in 2012," senior analyst Peggy Holloway said in a news release.

The rating upgrade also reflects a "very good" liquidity profile that in Moody's view will enable Wyndham to better manage through periods of market and economic volatility, according to the agency.

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