Google+ Followers

Tuesday, 25 January 2011

S&P Issues Negative Outlook for CityCenter - ABC News

Standard & Poor's Ratings Services issues a negative outlook on CityCenter, and says the casino complex will have trouble generating enough cash flow to justify its current capital structure.

The rating agency on Monday gave the casino complex owned by MGM Resorts International and Dubai World a "B-" corporate credit rating.

The agency says a recent offering of $1.5 billion in new notes only modestly offsets CityCenter's risks.