Fitch: Gaming Issuers’ Liquidity Ample Amid Shaky US HY Markets

Fitch Ratings | January 25, 2016

Fitch Ratings-New York-25 January 2016: Gaming issuers' have generally good liquidity that address most near-term maturity needs, according to Fitch Ratings. We do not anticipate any major liquidity-driven defaults in the near term despite the weakened state of the US high-yield market. Issuers with the biggest development pipelines, notably Wynn Resorts (WYNN) and MGM International (MGM), have pre-funded their needs. Financially weaker issuers with intermediate maturities, notably Mohegan Tribal Gaming Authority (MTGA) and Scientific Games (SGMS), will address maturities per Fitch's base case forecasts. Fitch believes that Wynn...