Fitch gives Universal Entertainment notes B

Fitch Ratings said it assigned a rating of B with an RR4 recovery rating to Universal Entertainment Corp.’s planned dollar-denominated notes. Subsidiary Tiger Resort, Leisure and Entertainment Inc. will guarantee the notes.

Fitch also affirmed the company’s B ratings.

“The planned refinancing of UEC’s outstanding $600 million of senior secured notes would help UEC to improve its financial profile by pushing out the maturity of most long-term debt to December 2024 from December 2021,” Fitch said in a press release.

The outlook is negative.

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