Fitch Keeps MGM Resorts at ‘BB-’ With Stable Outlook

Fitch Ratings has affirmed MGM Resorts International’s issuer default rating at ‘BB-’ with a stable outlook, noting the company’s robust business flexibility and strong liquidity even with a relatively high credit risk. The rating agency expects MGM’s leverage to remain flat and highlighted Macau’s strong performance and a new branding agreement with MGM China as key drivers. However, Fitch also pointed out potential risks from an active development program, fluctuations in high-end gaming, increased costs, and softness in the Las Vegas market due to declining visitation and revenue.

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