Fitch assigns Wyndham notes BB+

Fitch Ratings said it assigned a BB+/RR1 rating to Wyndham Destination’s 10-year senior secured notes offering.

The notes will rank pari passu with Wyndham’s secured notes, revolving credit facility, and term loan B. Proceeds are expected to be used to pay down a portion of borrowings under the company’s $1 billion revolver. The company had $357 million in revolver borrowings outstanding as of Sept. 30.

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