Moody's assigns Ba1 to Churchill's proposed $200 mil. term loan
Rating Action: Moody's assigns Ba1 to Churchill's proposed $200 mil. term loan. Global Credit Research- 04 Mar 2021. New York, March 04, 2021-- Moody's Investors Service, today assigned a Ba1 to Churchill Downs Incorporated's proposed $200 million 1st lien term B loan due 2028. Proceeds from the proposed term loan, will go towards repaying a portion of CHDN's $361 million of outstanding borrowings under the company's $700 million revolver and increasing the company's balance...Churchill Downs is a racing, online wagering and gaming entertainment company. The company manages its operations through three reportable segments: Churchill Downs, Online Wagering, and Gaming. Churchill Downs includes live and historical pari-mutuel racing at Churchill Downs Racetrack and Derby City Gaming. Online Wagering includes the company's TwinSpires business and its online sports betting and iGaming business. Gaming includes casino properties and associated racetrack or jai alai facilities which support the casino license as applicable.
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