S&P rates Wyndham Worldwide loan BBB-

Standard & Poor's said it assigned a BBB- rating to Wyndham Worldwide Corp.'s $1.5 billion senior unsecured revolving credit facility due 2018.

The new facility replaces Wyndham's existing revolving facility.

S&P also said it affirmed its A-3 short term rating on the company's increased $750 million 4(A)(2) commercial-paper program. All other ratings, including the BBB- corporate credit rating, remain unchanged.

The ratings reflect the company's satisfactory business risk profile and significant financial risk, the agency said.

The company has significant and leading market positions in each of its business units, a good level of business diversity and a positive view of management as a good business operator, S&P said.

The ratings also consider its relatively stable revenue and cash flow characteristics over the cycle across the lodging, timeshare exchange and vacation rentals businesses, the agency said.

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