Moody's could lift Wynn Resorts

Moody's Investors Service said it placed Wynn Resorts, Ltd.'s Ba2 corporate family and probability of default ratings on review for upgrade along with the Ba2 rating on the company's $1.32 billion 7¾% first mortgage notes due 2020 issued by Wynn Las Vegas, LLC, a wholly owned subsidiary of Wynn.

Moody's said the review for upgrade is based on its expectation that Wynn has the ability to maintain its relatively high EBITDA/interest coverage of about 5.5x, low consolidated net debt/EBITDA of about 2.5x and very good liquidity profile despite the company's development plans and likelihood of continued large shareholder distributions.

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