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Caesars Linq And Octavius Rated 'B-'; Outlook Stable; Debt Assigned Issue-Level And Recovery Ratings
Standard & Poors, May 2011
Abstract
U.S. gaming operator Caesars Entertainment recently closed on a bank financing, through indirect wholly owned subsidiaries Caesars Linq LLC and Caesars Octavius LLC, to fund projects on the Las Vegas Strip. We are assigning the borrowers our 'B-' corporate credit rating with a stable outlook. We are also assigning a 'B' issue-level rating to the $450 million term loan. The stable outlook reflects our belief that the financing package and other liquidity enhancements provide ample liquidity to meet debt service obligations. NEW YORK (Standard & Poor's) May 11, 2011--Standard & Poor's Ratings Services said today that it assigned its 'B-' corporate credit rating to two indirect wholly owned subsidiaries of Las Vegas-based Caesars Entertainment Corp., Caesars Linq LLC and Caesars...
Companies mentioned in this report are: Caesars Linq LLC
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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