Moody's rates MGM China's proposed $500 million sr. unsecured notes Ba3, affirms Ba3 CFR; outlook remains negative
Rating Action: Moody's rates MGM China's proposed $500 million sr. unsecured notes Ba3, affirms Ba3 CFR; outlook remains negative. Global Credit Research- 24 Mar 2021. New York, March 24, 2021-- Moody's Investors Service today assigned a Ba3 rating to MGM China Holdings Limited's proposed $500 million senior unsecured notes due 2027. MGM China Holdings Limited is a 55.95% owned discretely financed publicly traded subsidiary of MGM Resorts International.
MGM Resorts International is a holding company. Through its subsidiaries, the company owns and operates casino, hotel, and entertainment resorts across the United States and in Macau. The company's segments include: Las Vegas Strip Resorts, which consists of casino resorts such as Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New York, Excalibur, and Park MGM; Regional Operations, which consists of casino resorts such as MGM Grand Detroit, Beau Rivage, Gold Strike Tunica, Borgata, MGM National Harbor, MGM Springfield, Empire City, and MGM Northfield Park; and MGM China, which owns and operates casino resorts and the related gaming subconcession and land concessions.
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