S&P lowers Wyndham outlook to negative

Standard & Poor's said it revised its rating outlook on Wyndham Worldwide Corp. to negative from stable.

Ratings on the company, including the BBB corporate credit rating, were affirmed, the agency said.

The agency noted that the outlook revision follows Wyndham's announcement that its board has authorized a new $200 million share repurchase authorization, signaling a more aggressive financial policy of returning capital to shareholders.

According to S&P, the rating on Wyndham reflects the company's leading market positions in each of its business units and the stable cash flow characteristics of the lodging and RCI vacation network businesses.

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