S&P rates Melco Resorts notes BB

S&P said it assigned its BB long-term issue rating to the dollar-denominated senior notes that Melco Resorts Finance Ltd. proposes to issue.

Melco Resorts Finance plans to use the net proceeds from the notes to repay part of the principal amount outstanding under its senior secured revolving credit facility.

“We rate the notes the same as the long-term issuer credit rating on Melco Resorts (Macau) Ltd. (Melco Macau: BB/stable/--),” the agency said in a news release.

“That's because we view Melco Macau as the core operating subsidiary and major driver of the group's credit profile.”

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