S&P rates Sands China notes BBB-

S&P said it assigned its BBB- issue-level rating, the same as S&P’s long-term issuer credit rating, to Sands China Ltd.'s planned senior notes.

SCL intends to use the proceeds and cash on hand to redeem in full its $1.8 billion of 4.6% senior notes due 2023 and to pay any accrued interest and the associated make-whole premium.

“We expect the transaction to largely be debt for debt and to improve the company's maturity profile by eliminating a substantial portion of the company's 2023 debt maturities. As a result, all of our other ratings on SCL and parent Las Vegas Sands Corp. (LVS), including the BBB- issuer credit ratings, are unchanged,” S&P said in a press release.

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