A second credit rating service has raised its outlook on Wynn Resorts this week as a result of the company’s initial public offering on the Hong Kong Stock Exchange.
Moody’s Investor Services raised its outlook today on the Las Vegas-based casino operator from negative to stable. The ratings service said the change acknowledges a significant improvement in Wynn Resorts’ leverage after the company raised $1.87 billion in an initial public stock offering of 25 percent of its Macau assets.
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