Moody's rates Wynn Las Vegas notes Ba3

Moody's Investors Service said it assigned a Ba3 rating to Wynn Las Vegas, LLC's $1.3 billion 7.75% first mortgage notes due August 2020.

Wynn Las Vegas, LLC is a wholly owned subsidiary of Wynn Resorts, Ltd., the agency said, adding that all other ratings are affirmed.

Wynn Resorts, Ltd. has a Ba3 corporate family rating, Ba3 probability of default rating, and a positive outlook, according to Moody's.

The proceeds of the 7.75% first mortgage notes due August 2020 were used to redeem Wynn Las Vegas, LLC's $1.3 billion 6.625% first mortgage notes due Dec. 2014, the agency said, noting that Wynn Resorts, Ltd.'s Ba3 corporate family rating reflects Moody's favorable view of the consolidated entity's overall growth prospects, the company's moderately high leverage, very good liquidity and the quality, popularity, and favorable reputation of Wynn's casino properties.

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