S&P upgrades Wynn Macau debt

S&P said it raised Wynn Macau Ltd.’s unsecured debt rating to B+ from B and removed the rating from under criteria observation.

The rating on Wynn Macau's secured debt, issued by subsidiary Wynn Resorts (Macau) SA, remains unaffected.

The agency said the actions stem solely from the application of its revised issue rating criteria and do not reflect any change in the assessment of the corporate credit ratings for issuers of the affected debt issues.

S&P said the action takes into consideration Wynn Macau's capital structure, which consists of $2.5 billion million of secured debt issued by its subsidiary, and $1.35 billion of unsecured debt issued by Wynn Macau.

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