trending Market Intelligence /marketintelligence/en/news-insights/trending/ehaoaptwkux8aerwmmgpig2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Fitch continues to place Wyndham Worldwide on Rating Watch Negative

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Fitch continues to place Wyndham Worldwide on Rating Watch Negative

Fitch Ratings said it will continue to place the BBB- long-term and F3 short-term issuer default ratings and senior unsecured debt ratings of hotelier Wyndham Worldwide Corp. on Rating Watch Negative.

The negative watch is being maintained on the back of Wyndham's planned spin-off of its lodging business and sale of its European vacation rentals segment, which the rating agency expects will cause Wyndham Destinations' operational focus to be constricted to the "less stable and more capital intensive" timeshare business, Wyndham Vacation Ownership.

Fitch listed further transaction certainty, Wyndham Destinations' financial policy targets and the time frame for achieving them as key unknown factors that will influence the resolution of the negative rating watch.

Wyndham Worldwide's ratings could fall to the mid-to-low BB category if Wyndham Destinations' core, adjusted gross leverage is roughly 2x to 3x, according to the rating agency, adding it anticipates the unit's "core" adjusted leverage to increase to 6.4x at spin and to the high 5.0x range at 2018-end.

The ratings mirror the Parsippany, N.J.-based company's adequate free cash flow profile, as well as its focus on maintaining low investment-grade credit metrics.