Fitch revises Gaming and Leisure view to negative

Fitch Ratings said it changed the outlook to negative from stable and affirmed the long-term issuer default ratings of Gaming and Leisure Properties, Inc. and its issuing subsidiary GLP Capital, LP at BBB-. Fitch also affirmed GLP Capital's senior unsecured debt at BBB-.

“The revision of GLPI's rating outlook to negative reflects the operational disruptions faced by GLPI's tenants while its casinos are closed due to the coronavirus pandemic. The negative rating outlook further reflects the uncertainty surrounding the duration of the closures and the subsequent recovery. There is a real risk that tenants may look to their rent obligations to conserve cash while their facilities are closed or are operating with minimal business volumes,” Fitch said in a press release.

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