Bulletin: Wynn Resorts Rating Unaffected By Issuance Of Common Stock, Potential Dutch Tender Offer Nov 08
- ID: 2085024
- November 2008
- Region: Netherlands, Holland
- Standard & Poors
NEW YORK (Standard & Poor's) Nov. 14, 2008--Standard & Poor's Ratings Services said today that its 'BB' corporate credit rating and stable outlook on Las Vegas-based Wynn Resorts Ltd. and its wholly owned subsidiary, Wynn Las Vegas LLC (jointly "Wynn"), would not be affected by the amendment to its $1 billion senior unsecured term loan (issued by Wynn Resorts Ltd.) announced on Nov. 13, 2008. The amendment permits the repurchase of up to $650 million principal value of its term loan. In addition, the company's plans to issue up to 9.2 million shares of common stock at a price of $43.50 per share, the proceeds of which could be applied toward the repurchase of the term loan debt. According to...
Companies mentioned in this report are: Wynn Resorts Ltd.,Wynn Las Vegas LLC
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Research type: News
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