Fitch Updates Recovery Analyses for U.S. Gaming Operators
NEW YORK -- December 20, 2012
Fitch Ratings has published updated recovery analyses for the following U.S.
-- Caesars Entertainment Operating Co. (including Chester Downs and Marina
-- MGM Resorts International
-- CityCenter Holdings, LLC
-- Boyd Gaming Corporation
-- Marina District Finance Company, Inc (Borgata)
-- Peninsula Gaming, LLC (Newly assigned IDR and Security Specific Ratings)
-- Pinnacle Entertainment, Inc.
The analyses take into account proposed refinancing transactions announced by
Caesars and MGM in the third quarter of 2012.
The interactive recovery analysis worksheets are available at
'www.fitchratings.com' under the following headers:
Sectors >> Corporate Finance >> Corporates >> Research
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:
-- 'Recovery Ratings and Notching Criteria for Non-Financial Corporate
Issuers' Nov. 13, 2012;
-- 'Corporate Rating Methodology' Aug. 8, 2012;
-- 'U.S. Gaming: Recovery Rating Methodology, April 4, 2008.
Applicable Criteria and Related Research: U.S. Gaming Recovery Models -
Recovery Ratings and Notching Criteria for Non-Financial Corporate Issuers
Corporate Rating Methodology
US Gaming: Recovery Rating Methodology
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