Moody’s gives Wyndham Destination notes Ba3

Moody’s Investors Service said it assigned a Ba3 rating to Wyndham Destinations’ planned offering of $500 million of secured notes.

Proceeds will be used for general corporate purposes, which may include the repayment of outstanding indebtedness under the secured revolving credit facility, the future repayment of the 5 5/8% secured notes due March 2021 and the payment of related fees and expenses.

The company’s other ratings are unchanged, including its secured note rating of Ba3, Moody’s said.

The outlook remains negative.

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