Moody's rates MGM notes B3

Moody's Investors Service said it assigned a B3 rating to MGM Resorts International's proposed $700 million senior unsecured notes due 2020.

Moody's also affirmed the company's B2 corporate family and probability of default ratings, Ba2 senior secured ratings, B3 senior unsecured ratings and Caa1 senior subordinated ratings.

MGM has an SGL-3 speculative grade liquidity rating and a stable outlook.

"MGM's proposed note offering is another positive step towards refinancing its considerable debt maturities in the next two years," Moody's vice president and senior credit officer Peggy Holloway said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.