Fitch rates Wyndham Destinations notes BB+

Fitch Ratings said it assigned a BB+/RR1 rating to Wyndham Destinations, Inc.’s offering of $500 million of senior secured notes.

Wyndham intends to use the proceeds for general corporate purposes, which may include the repayment of borrowings under their secured revolving credit facility, the future repayment of their 5 5/8% secured notes due March 2021 and the payment of related fees and expenses.

“Fitch views the issuance as a credit positive that enhances Wyndham’s liquidity profile and flexibility to navigate the challenging near-term operating environment and address near-to-medium-term debt maturities,” the agency said in a press release.

The outlook is negative.

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