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Bulletin: Wynn Resorts Rating Unaffected By Issuance Of Common Stock, Potential Dutch Tender Offer Nov 08 Product Image

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

Abstract
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
Action: Bulletin

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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