Fitch lowers Wynn to stable

Fitch Ratings said it affirmed the issuer default ratings of Wynn Resorts, Ltd. and its subsidiaries at BB.

The outlook was revised to stable from positive.

The agency also said it affirmed its subsidiaries.

Wynn Las Vegas, LLC's issuer default rating was affirmed at BB, senior secured bank credit facility rating at BB+ and senior secured first mortgage notes at BB+.

Wynn Resorts (Macau), SA's issuer default rating also was affirmed at BB and senior secured bank credit facility at BBB-.

Wynn recently announced that its internal compliance committee found its largest shareholder unsuitable under the company's articles of incorporation, Fitch said.

The committee decision follows a year-long investigation that concluded with an independent report of potential violations of the U.S. Foreign Corrupt Practices Act involving Aruze USA, Inc., its parent company Universal Entertainment Corp. and its principal shareholder, Kazuo Okada, the agency said.

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