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Research Update: Wynn Resorts Ratings Placed On CreditWatch With Positive Implications Following Continued Strong Performance Apr 11
Standard & Poors, April 2011
We believe that Las Vegas-based Wynn Resorts' financial profile has improved to the point that the company may be able to maintain credit measures in line with a higher rating, despite substantial development spending plans. We are placing our 'BB' corporate credit rating, as well as all issue-level ratings on the company, on CreditWatch with positive implications. In resolving the CreditWatch listing we will consider whether our updated long-term performance expectations, incorporating management's relatively aggressive posture toward expansion and desire to opportunistically deliver returns to shareholders, support a higher rating. On April 20, 2011, Standard & Poor's Ratings Services placed its 'BB' corporate credit rating on Las Vegas-based Wynn Resorts Ltd., as well as all related issue-level ratings, on CreditWatch...
Companies mentioned in this report are: Wynn Resorts Ltd.,Wynn Las Vegas LLC,Wynn Las Vegas Capital Corp.
Action: On CreditWatch:Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Wynn Resorts Ltd.,Wynn Las Vegas LLC,Wynn Las Vegas Capital Corp.