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Prospect News home > News index > List of issuers W > Headlines for Wyndham Worldwide Corp. > News item |
S&P rates Wyndham notes BBB-
Standard & Poor's said it assigned its BBB- issue-level rating to Wyndham Worldwide Corp.'s proposed aggregate $600 million in senior unsecured notes due 2017 and 2022.
According to S&P, Wyndham plans to use the proceeds to repurchase any and all outstanding amounts of the $250 million 9.875% senior notes due 2014, to partially repurchase the company's 6% senior notes due 2016 and 7.375% notes due 2020, to repay revolver balances and for general corporate purposes.
S&P's BBB- corporate credit rating on Wyndham reflects its assessment of the company's business risk profile as "satisfactory" and of the company's financial risk profile as "intermediate."
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